Statistics about finances of the general government and public non-financial corporations sectors for the various levels of government in Australia
Government Finance Statistics (GFS) are current prices, original series. Unless indicated, data for the total general government sector includes Commonwealth, state, territory and local governments, and public universities.
The financial year results used in this article are created using a sum of four quarters approach based on quarterly Government Finance Statistics. Small revisions may have been applied to prior release periods. Annual GFS data for 2024-25 will be published on 21/04/2026.
Net operating balance (NOB) is
In 2024-25 all Australia general government revenue and expenses series both reached a trillion dollars for the first time.
Australia’s NOB was -$19.6 billion in 2024-25, $34.4 billion lower than 2023-24.
Australia’s revenue increased by 4.0% ($38.9 billion) in 2024-25, this was lower compared to the growth of 5.6% ($51.7 billion) in 2023-24.
Taxation revenue increased by 4.3% ($34.0 billion) and accounted for 82.8% of the total Australian revenue. This was partially offset by a decrease in royalty income, which fell 21.2% ($6.3 billion) in 2024-25.
Commonwealth taxation was the largest component of Australia’s total taxation revenue at 80.6% and increased 3.5% ($22.6 billion) in 2024-25. The increase was driven by other taxes and in particular income tax paid by superannuation funds. Personal income tax rose slightly while there was a small decrease in company income tax.
State and local taxation accounted for 19.4% of total taxation revenue and increased 7.6% ($11.5 billion) in 2024-25. Stamp duties and payroll taxes were the two largest contributors, accounting for around 59.5% of the growth for total state and local government taxes.
Australia’s royalty income decreased by 21.2% ($6.3 billion) in 2024-25. This was in line with falls in commodity prices and the fall in the value of exports for coal and metal ore (a). Drivers of the result in royalty income were:
Australia’s expenses increased by 7.7% ($73.3 billion) in 2024-25, this was lower compared to the growth of 8.1% in 2023-24. Drivers for 2024-25 were:
| 2018/19 | 2019/20 | 2020/21 | 2021/22 | 2022/23 | 2023/24 | 2024/25 | |
|---|---|---|---|---|---|---|---|
| (%) | (%) | (%) | (%) | (%) | (%) | (%) | |
| Employee expenses | 28.2 | 26.0 | 24.3 | 25.9 | 26.6 | 26.9 | 27.2 |
| Social benefits | 11.5 | 13.4 | 13.6 | 15.3 | 16.3 | 17.6 | 18.3 |
| Use of goods and services | 19.5 | 17.8 | 16.9 | 19.2 | 19.6 | 18.8 | 18.7 |
| Depreciation | 4.9 | 4.4 | 4.0 | 4.2 | 4.4 | 4.4 | 4.3 |
| Current transfer expenses | 29.1 | 32.6 | 35.8 | 29.4 | 25.8 | 25.0 | 24.3 |
| Capital transfer expenses | 1.0 | 1.2 | 1.4 | 1.4 | 1.3 | 1.1 | 1.0 |
| Interest expenses | 5.7 | 4.5 | 4.0 | 4.6 | 6.0 | 6.3 | 6.4 |
Australian employee expenses (a) increased 8.8% ($22.5 billion) in 2024-25 and were 27.2% of total expenses. State and local government employee expenses increased 7.2% ($13.3 billion) and was the largest contributor to growth, with state government employees making up the largest portion of public sector workers (b). Commonwealth employee expenses increased by 16.1% ($7.9 billion) and universities increased by 6.2% ($1.3 billion).
Growth in total employee expenses was driven by wage increases from newly negotiated enterprise bargaining agreements across most jurisdictions, an increase in the size of the frontline service delivery workforce (particularly in health, social protection, and education), and workers’ compensation expenses. The Federal Election in May 2025 and several state or local government elections during the financial year contributed to a temporary increase in employee expenses. Wages and salaries growth was 7.3% in 2024-25 which was slightly lower than 8.3% from the previous year and aligned with data from the Wage Price Index (WPI) (a).
Australia’s social benefits increased 11.9% ($20.0 billion) in 2024-25 and were 18.3% of total expenses. Commonwealth government payments are around 90% of total social benefits.
Commonwealth social benefits increased 10.5% ($16.1 billion) in 2024-25, driven by increases in disability, health, aged care, childcare and family, and other benefits.
State social benefits increased 25.5% (up $3.9 billion) in 2024-25. This reflected states expansion of the jointly funded Commonwealth Energy Bill Relief which provided all households a $300 rebate through the year from the 1st of July 2024. This was in addition to existing state and territory energy concessions and state energy rebates in Queensland and Western Australia.
Australia’s monetary transfers to households increased by 6.5% ($10.2 billion) in 2024-25 and were 16.3% of total expenses. Growth was driven by aged pension, disability and carers pensions, family tax benefit, and job seeker payments. Commonwealth transfers contributed to around 97% of monetary transfers to households.