5519.0.55.001 - Government Finance Statistics, Australia, Sep 2016 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 06/12/2016   
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SEPTEMBER KEY FIGURES: ALL LEVELS OF GOVERNMENT


In the September quarter 2016:
  • Taxation revenue decreased by -15.3% from $124,925m in the June quarter 2016 to $105,772m in the September quarter 2016.
  • General government sector expenses exceeded revenue resulting in a GFS net operating balance of -$19,696m.
  • The GFS net lending(+)/borrowing(-) position for the general government sector was -$21,970m.
Graph Image for ALL LEVELS OF GENERAL GOVERNMENT, GFS REVENUE AND EXPENSES


Graph Image for ALL LEVELS OF GENERAL GOVERNMENT, NET OPERATING BALANCE, NET LENDING BORROWING



GFS KEY FIGURES: ALL LEVELS OF GOVERNMENT, ORIGINAL

Jun Qtr
2016
Sep Qtr
2016
Jun Qtr 2016 to
Sep Qtr 2016
$m
$m
% change

Current Prices
Taxation revenue
General government
124 925
105 772
-15.3
Total revenue
General government
154 952
136 027
-12.2
Public non-financial corporations
21 129
19 965
-5.5
Total expenses
General government
154 457
155 724
0.8
Public non-financial corporations
22 470
20 477
-8.9
GFS Net operating balance
General government
496
-19 696
. .
Public non-financial corporations
-1 341
-512
. .
GFS Net lending(+)/borrowing(-)
General government
-10 811
-21 970
. .
Public non-financial corporations
-5 440
-2 512
. .

. . not applicable



QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES

The table below includes the key public sector aggregates for the September quarter 2016 which will be included in the Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0). The key figures shown include Government Final Consumption Expenditure for general government and Gross Fixed Capital Formation for general government and public corporations, seasonally adjusted in current prices and chain volume terms.

In the September quarter 2016:
  • In seasonally adjusted chain volume terms, total general government final consumption expenditure decreased by $188m, a drop of -0.2% compared with the June quarter 2016.
  • In seasonally adjusted chain volume terms, total general government gross fixed capital formation decreased by -10.4% compared with the June quarter 2016.

Graph Image for KEY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES, SEASONALLY ADJUSTED


QUARTERLY NATIONAL ACCOUNTS PUBLIC SECTOR MEASURES - KEY FIGURES, SEASONALLY ADJUSTED

Dec Qtr
2015
Mar Qtr
2016
Jun Qtr
2016
Sep Qtr
2016
Jun Qtr 2016
to Sep Qtr 2016
$m
$m
$m
$m
% change

Current Prices
General government final consumption expenditure (a)
National - defence
6 581
6 816
6 647
7 091
6.7
National - non-defence
24 354
24 894
26 035
25 263
-3.0
Total national
30 936
31 710
32 682
32 354
-1.0
State and local
45 878
46 670
47 726
47 500
-0.5
Total general government final consumption expenditure
76 814
78 380
80 409
79 854
-0.7
Public gross fixed capital formation
General government
National - defence
2 366
2 133
2 739
1 865
-31.9
National - non-defence
1 879
2 116
2 320
2 269
-2.2
Total national
4 245
4 248
5 059
4 133
-18.3
State and local
8 380
8 871
10 817
9 386
-13.2
Total general government
12 625
13 119
15 876
13 519
-14.8
Public corporations
Commonwealth
1 794
1 365
1 407
1 460
3.8
State and local
3 885
3 650
3 837
3 856
0.5
Total public corporations
5 679
5 015
5 244
5 316
1.4
Total public gross fixed capital formation
18 304
18 134
21 120
18 836
-10.8
Memorandum item
Net purchases of second-hand assets by public sector
343
473
2 285
601
np

Chain Volume (b)
General government final consumption expenditure (a)
National - defence
6 406
6 585
6 377
6 756
5.9
National - non-defence
23 976
24 339
25 598
25 135
-1.8
Total national
30 382
30 923
31 975
31 891
-0.3
State and local
45 088
45 395
45 857
45 753
-0.2
Total general government final consumption expenditure
75 471
76 319
77 832
77 644
-0.2
Public gross fixed capital formation
General government
National - defence
2 197
2 017
2 633
1 840
-30.1
National - non-defence
1 883
2 140
2 343
2 299
-1.9
Total national
4 079
4 157
4 976
4 139
-16.8
State and local
8 297
8 838
10 820
9 418
-13.0
Total general government
12 376
12 995
15 796
13 557
-14.2
Public corporations
Commonwealth
1 776
1 349
1 388
1 449
4.4
State and local
3 836
3 607
3 774
3 775
-
Total public corporations
5 612
4 956
5 162
5 224
1.2
Total public gross fixed capital formation
17 988
17 951
20 957
18 781
-10.4
Memorandum item
Net purchases of second-hand assets by public sector
329
465
2 271
587
np

np not available for publication but included in totals where applicable, unless otherwise indicated
(a) See paragraph 37 of the Explanatory Notes for the relationship between general government final consumption expenditure and GFS aggregates.
(b) Reference year for chain volume measures is 2014-15.


SEPTEMBER GFS RELEASE

This release presents quarterly government finance statistics on an accrual accounting basis. All tables are presented in GFS operating statement format and are for the general government sector, with the exception of Table 2 which presents data for the public non-financial corporations sector.

Detailed quarterly GFS are released for the current financial year only, other than in the September quarter, when the quarters of the previous financial year are presented. Users requiring data for earlier periods should consult the annual publication Government Finance Statistics, Australia (cat. no. 5512.0). The latest issue (2014-15) was released on 26 April 2016. Final annual GFS results for 2015-16 are scheduled for release by the ABS in April 2017.

RELEASE OF QUARTERLY GFS THIS ISSUE

Table
Sep 15
Dec 15
Mar 16
Jun 16
Sep 16
Table 1 All Levels of Government - General Government
*
*
*
*
*
Table 2 All Levels of Government - Public Non-Financial Corporations
*
*
*
*
*
Table 3 Commonwealth Government
*
*
*
*
*
Table 4 Total State & Local
*
*
*
*
*
Table 5 New South Wales
*
*
*
*
Table 6 Victoria
*
*
*
*
Table 7 Queensland
*
*
*
*
Table 8 South Australia
*
*
*
*
Table 9 Western Australia
*
*
*
*
Table 10 Tasmania
*
*
*
*
Table 11 Northern Territory
*
*
*
*
Table 12 Australian Capital Territory
*
*
*
*

Government Finance Statistics are part of the broader suite of macroeconomic accounts produced by the ABS. They share their basic concepts with the National Accounts and Balance of Payments. The conceptual framework is agreed internationally and published by the International Monetary Fund. Macroeconomic statistics are compiled to enable macroeconomic analysis and the standards may differ from accounting standards in some regards.


TRANSACTIONS RELATED TO RESERVE BANK OF AUSTRALIA DIVIDENDS

During September quarter 2016, the Treasurer determined that a sum of $3.2 billion in Reserve Bank of Australia (RBA) earnings available for distribution from 2015-16 was payable as a dividend to the Commonwealth. RBA dividends are recorded in GFS and the National Accounts in the period that the Treasurer makes the determination. This timing is different to the accounting standards used for the Commonwealth Financial Statements where the RBA dividend is recorded in the period that the dividend is earned.


TRANSACTIONS RELATED TO VISA APPLICATION CHARGES

In December 2015, the Commonwealth Government released the 2015-16 Mid-Year Economic and Fiscal Outlook (MYEFO) which included a reclassification of visa application charges (VAC). In MYEFO these charges are now treated as taxation revenue rather than sales of goods and services. This reclassification has been applied to the Government Finance Statistics (GFS), with no impact on total GFS revenue or the GFS net operating balance. The National Accounts statistics will maintain coherence with previously published data and classify this transaction as sales of goods and services. These treatments will remain in place until a review of the treatment of VAC and similar government charges in macroeconomic statistics has been completed.


FORTHCOMING ISSUES

The release of GFS quarterly data is usually coordinated to be the day before the respective issue of Australian National Accounts: National Income, Expenditure and Product (cat. no. 5206.0). The scheduled release dates for the next two issues are:

Issue5519.0.55.0015206.0
December 201628 February 20171 March 2017
March 20176 June 20177 June 2017


INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070, email <client.services@abs.gov.au> or email <public.finance@abs.gov.au>. The ABS Privacy Policy outlines how the ABS will handle any personal information that you provide to us.