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1384.6 - Statistics - Tasmania, 2005  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 13/09/2002   
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As part of 'A new Tax System' introduced by the Commonwealth Government, in agreement with the States, from 1 July 2000, the Goods and Services Tax (GST) replaced various Commonwealth and State taxes. The GST is passed on to the States as grants, along with budget balancing assistance to ensure that the States are not worse off in the early years of the introduction of the GST. These grants replace the previous general revenue assistance grants, and the State taxes listed above, resulting in a change in the revenue mix for the Tasmanian General Government sector. Commonwealth current grants are the major source of revenue for the Tasmanian General Government sector, and have increased as a proportion of total revenue under the new arrangements. In 2000-01, Commonwealth current grants made up 58% of total revenue, up from 47% in 1999-2000, while State taxes were 20% of total revenue in 2000-01, down from 26% in 1999-2000.

STATE GENERAL GOVERNMENT OPERATING STATEMENT, Tasmania

1998-99
1999-2000
2000-01

Item
$m
$m
$m

GFS Revenue
Taxation revenue
659
690
547
Current grants and subsidies
1,110
1,228
1,555
Sales of goods and services
331
314
283
Interest income
36
38
30
Other
285
334
269
Total
2,422
2,604
2,684

less
GFS Expenses
Gross operating expenses
Depreciation
85
138
145
Employee expenses
1,048
1,091
1,164
Other operating expenses
656
682
697
Total
1,789
1,911
2,006

Nominal superannuation interest expenses
69
68
67
Other interest expenses
189
157
122
Current grants and transfers
271
294
380
Capital grants and transfers
34
40
4
Total
2,351
2,470
2,578

equals
GFS Net Operating Balance
71
134
106

less
Net acquisition of non-financial assets
11
-42
-38
equals
GFS Net Lending(+)/Borrowing(-)
59
176
144

Source: Government Finance Statistics, Australia (Cat. no. 5512.0) and ABS data available on request, Government Finance Statistics Collection.


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