Government Finance Statistics, Australia

Latest release

Statistics about finances of the general government and public non-financial corporations sectors for the various levels of government in Australia

Reference period

September 2025

Released

2/12/2025

Release date and time

02/12/2025 11:30am AEDT

Key statistics

In September quarter 2025:

general government net operating balance fell $34.8b to -$32.2b, since June quarter 2025
taxation revenue declined 11.6% to $200.0b, since June quarter 2025
general government borrowing was $42.7b
total public demand is expected to contribute 0.4ppt to the quarterly change in GDP

Unless indicated, all Government Finance Statistics figures presented in this publication are current prices, original series.

Government Finance Statistics measures

		Dec Qtr 2024	Mar Qtr 2025	Jun Qtr 2025	Sep Qtr 2025	Jun Qtr 2025 to Sep Qtr 2025
		($m)	($m)	($m)	($m)	(% change)
Taxation revenue
	General government	213,198	206,797	226,239	199,967	-11.6%
Total revenue
	General government	252,799	250,536	271,673	245,521	-9.6%
	Public non-financial corporations	30,088	30,124	31,549	31,515	-0.1%
Total expenses
	General government	255,627	250,672	269,111	277,739	3.2%
	Public non-financial corporations	30,073	29,806	32,559	32,263	-0.9%
GFS Net Operating Balance
	General government	-2,827	-136	2,563	-32,218	na
	Public non-financial corporations	15	318	-1,010	-748	na
GFS Net Lending (+)/Borrowing (-)
	General government	-18,328	-12,739	-16,394	-42,662	na
	Public non-financial corporations	-8,150	-4,572	-9,982	-7,933	na

na indicates this value not available for publication but included in totals where applicable, unless otherwise indicated

Net operating balance of all levels of general government
	Revenue ($b)	Expenses ($b)	Net Operating Balance ($b)
Sep-24	232.4	-250.7	-18.2
Dec-24	252.8	-255.6	-2.8
Mar-25	250.5	-250.7	-0.1
Jun-25	271.7	-269.1	2.6
Sep-25	245.5	-277.7	-32.2

Net operating balance of all levels of general government

["","Revenue","Expenses","Net Operating Balance"]

[["Sep-24","Dec-24","Mar-25","Jun-25","Sep-25"],[[232.4],[252.8],[250.5],[271.7],[245.5]],[[-250.7],[-255.6],[-250.7],[-269.1],[-277.7]],[[-18.2],[-2.8],[-0.1],[2.6],[-32.2]]]

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National accounts public sector measures

The table below includes the key public sector aggregates for September quarter 2025 which will be included in the Australian National Accounts: National Income, Expenditure and Product release. The key figures shown include Total Public Demand, Government Final Consumption Expenditure for total general government and Gross Fixed Capital Formation for total general government and total public corporations, seasonally adjusted in current prices and chain volume terms.

The following are the seasonally adjusted chain volume measures based on the previous quarter (a):

public sector demand is expected to contribute 0.4 percentage points to the change in GDP in September quarter 2025
general government final consumption expenditure rose $1241m (up 0.8%) and is expected to contribute 0.2 percentage points to the change in GDP in September quarter 2025
general government gross fixed capital formation rose $579m (up 2.3%)
public corporations gross fixed capital formation rose $548m (up 4.8%)
total public gross fixed capital formation rose $1127m (up 3.0%) and is expected to contribute 0.2 percentage points to the change in GDP in September quarter 2025

Contributions may not be additive due to rounding

Quarterly national accounts public sector measures, current prices, seasonally adjusted
			Dec Qtr 2024 ($m)	Mar Qtr 2025 ($m)	Jun Qtr 2025 ($m)	Sep Qtr 2025 ($m)	Jun Qtr 2025 to Sep Qtr 2025 (% change)
General government final consumption expenditure (a)
	National-defence		12,967	13,291	13,760	13,997	1.7
	National-non-defence		62,237	63,359	65,405	66,327	1.4
	Total national		75,204	76,650	79,165	80,324	1.5
	State and local		84,464	84,668	85,142	86,940	2.1
	Total general government final consumption expenditure		159,668	161,318	164,307	167,264	1.8
Public gross fixed capital formation
	General government
		National-defence	3,941	4,224	3,435	3,609	5.1
		National-non-defence	2,753	2,871	2,759	2,895	4.9
		Total national	6,693	7,095	6,194	6,503	5.0
		State and local	21,491	21,108	20,554	20,914	1.7
		Total general government	28,184	28,203	26,748	27,417	2.5
	Public corporations
		Commonwealth	2,671	2,636	2,847	2,962	4.1
		State and local	9,286	9,019	9,036	9,531	5.5
		Total public corporations	11,956	11,655	11,883	12,493	5.1
	Total public gross fixed capital formation		40,140	39,858	38,631	39,910	3.3
Total public demand			199,808	201,176	202,938	207,174	2.1
Memorandum item
	Net purchases of second hand assets by public sector		1,112	1,186	969	1,251	29.1
	Public authorities changes in inventories (b)		1,019	223	1,331	883	na

na not available for publication but included in totals where applicable, unless otherwise indicated

See explanatory notes for the relationship between general government final consumption expenditure and GFS aggregates Government Finance Statistics, Australia methodology, September 2025.
Includes general government, public non-financial corporations and public financial corporations

Quarterly national accounts public sector measures, chain volume (a), seasonally adjusted
			Dec Qtr 2024 ($m)	Mar Qtr 2025 ($m)	Jun Qtr 2025 ($m)	Sep Qtr 2025 ($m)	Jun Qtr 2025 to Sep Qtr 2025 (% change)
General government final consumption expenditure (b)
	National-defence		12,615	12,790	13,116	13,179	0.5
	National-non-defence		60,573	60,694	62,016	62,366	0.6
	Total national		73,188	73,484	75,132	75,544	0.5
	State and local		82,129	81,861	81,641	82,469	1.0
	Total general government final consumption expenditure		155,317	155,346	156,773	158,014	0.8
Public gross fixed capital formation
	General government
		National-defence	3,802	3,894	3,149	3,340	6.1
		National-non-defence	2,696	2,791	2,664	2,786	4.6
		Total national	6,498	6,685	5,813	6,126	5.4
		State and local	20,826	20,310	19,658	19,924	1.4
		Total general government	27,324	26,995	25,471	26,050	2.3
	Public corporations
		Commonwealth	2,625	2,581	2,778	2,882	3.8
		State and local	9,070	8,744	8,717	9,160	5.1
		Total public corporations	11,695	11,325	11,494	12,042	4.8
	Total public gross fixed capital formation		39,019	38,320	36,965	38,092	3.0
Total public demand			194,336	193,666	193,738	196,106	1.2
Memorandum item
	Net purchases of second hand assets by public sector		1,068	1,132	918	1,177	28.2
	Public authorities changes in inventories (c)		155	-574	1,540	-144	na

na not available for publication but included in totals where applicable, unless otherwise indicated

Reference year for chain volume measures is 2023-24
See explanatory notes for the relationship between general government final consumption expenditure and GFS aggregates Government Finance Statistics, Australia methodology, September 2025.
Includes general government, public non-financial corporations and public financial corporations

Public demand contribution to GDP growth

Public demand, contribution to GDP growth (a) (b)
	Gov final consumption expenditure (ppt)	Gov gross fixed capital formation (ppt)
Sep-22	-0.1	0.0
Dec-22	0.1	0.0
Mar-23	0.1	0.2
Jun-23	0.2	0.3
Sep-23	0.2	0.2
Dec-23	0.1	-0.1
Mar-24	0.4	-0.1
Jun-24	0.3	0.0
Sep-24	0.4	0.4
Dec-24	0.2	0.0
Mar-25	0.0	-0.1
Jun-25	0.2	-0.2
Sep-25	0.2	0.2

Public demand, contribution to GDP growth (a) (b)

["","Gov final consumption expenditure","Gov gross fixed capital formation"]

[["Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24","Sep-24","Dec-24","Mar-25","Jun-25","Sep-25"],[[-0.1],[0.1],[0.1],[0.2],[0.2],[0.1],[0.4],[0.3],[0.4],[0.2],[0],[0.2],[0.2]],[[0],[0],[0.2],[0.3],[0.2],[-0.1],[-0.1],[0],[0.4],[0],[-0.1],[-0.2],[0.2]]]

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Chain volume measures seasonally adjusted
using the GDP series as published in the June 2025 release of Australian National Accounts: National Income, Expenditure and Product.

Revisions and changes

Revisions

Divergences with government fiscal reporting

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