5519.0.55.001 - Government Finance Statistics, Australia, Sep 2019 Quality Declaration 
Latest ISSUE Released at 11:30 AM (CANBERRA TIME) 03/12/2019   
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Key figures: all levels of general government, Government Finance Statistics (GFS)

In the September quarter 2019:

  • taxation revenue decreased 16.5% to $128,477m
  • expenses exceeded revenue resulting in a net operating balance of -$13,469m
  • the GFS net lending(+)/borrowing(-) position was -$19,452m.


Graph 1: All levels of general government, GFS revenue and expenses

Graph 1 shows all levels of general government, GFS revenue and expenses


Graph 2: All levels of general government, net operating balance, net lending/borrowing

Graph 2 shows all levels of general government, net operating balance, net lending/borrowing



Table 1: GFS key figures: all levels of government, original

Jun Qtr
2019
Sep Qtr
2019
Jun Qtr 2019 to
Sep Qtr 2019
$m
$m
% change

Current Prices
Taxation revenue
General government
153 819
128 477
–16.5
Total revenue
General government
191 866
163 751
–14.7
Public non-financial corporations
22 343
21 808
–2.4
Total expenses
General government
175 640
177 221
0.9
Public non-financial corporations
25 372
23 970
–5.5
GFS Net operating balance
General government
16 226
–13 469
. .
Public non-financial corporations
3 029
2 163
. .
GFS Net lending(+)/borrowing(-)
General government
1 210
–19 452
. .
Public non-financial corporations
6 086
–4 092
. .

. . not applicable


Quarterly national accounts public sector measures - key figures

The table below includes the key public sector aggregates for the September quarter 2019 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 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.

In seasonally adjusted chain volume terms compared with the previous quarter:
  • general government final consumption expenditure increased by $817m or 0.9%, and is expected to contribute 0.2 percentage points to growth in the September quarter 2019 volume measure of GDP
  • general government gross fixed capital formation increased by $167m or 0.9%
  • public corporations gross fixed capital formation increased by $294m or 5.4%
  • public gross fixed capital formation increased by $459m or 1.9%, and is expected to contribute 0.1 percentage points to growth in the September quarter 2019 volume measure of GDP.


Graph 3: National accounts public sector key measures, seasonally adjusted chain volume

Graph 3 shows national accounts public sector key measures, seasonally adjusted chain volume


Table 2: Quarterly national accounts public sector measures - key figures, seasonally adjusted


Dec Qtr
2018
Mar Qtr
2019
Jun Qtr
2019
Sep Qtr
2019
Jun Qtr 2019
to Sep Qtr 2019
$m
$m
$m
$m
% change

Current Prices
General government final consumption expenditure (a)
National - defence
8 198
8 042
8 383
8 770
4.6
National - non-defence
30 122
30 469
31 848
32 511
2.1
Total national
38 320
38 511
40 230
41 280
2.6
State and local
53 226
53 842
55 194
55 389
0.4
Total general government final consumption expenditure
91 546
92 353
95 425
96 669
1.3
Public gross fixed capital formation
General government
National - defence
2 330
2 316
2 816
3 071
9.1
National - non-defence
2 416
2 346
2 244
2 299
2.5
Total national
4 746
4 662
5 060
5 370
6.1
State and local
13 658
13 927
13 965
13 909
0.4
Total general government
18 404
18 589
19 025
19 279
1.3
Public corporations
Commonwealth
1 994
2 089
2 090
2 140
2.4
State and local
3 915
3 794
3 531
3 812
8.0
Total public corporations
5 908
5 883
5 621
5 952
5.9
Total public gross fixed capital formation
24 312
24 472
24 646
25 231
2.4
Memorandum item
Net purchases of second-hand assets by public sector
342
447
824
403
np

Chain Volume (b)
General government final consumption expenditure (a)
National - defence
7 982
7 811
8 095
8 413
3.9
National - non-defence
29 738
30 303
31 289
31 858
1.8
Total national
37 720
38 113
39 384
40 272
2.3
State and local
51 865
52 328
53 352
53 281
–0.1
Total general government final consumption expenditure
89 585
90 441
92 736
93 553
0.9
Public gross fixed capital formation
General government
National - defence
2 200
2 171
2 595
2 778
7.0
National - non-defence
2 399
2 334
2 229
2 294
2.9
Total national
4 599
4 505
4 824
5 072
5.1
State and local
13 222
13 467
13 438
13 357
–0.6
Total general government
17 822
17 973
18 262
18 429
0.9
Public corporations
Commonwealth
1 951
2 037
2 032
2 070
1.9
State and local
3 802
3 657
3 375
3 630
7.6
Total public corporations
5 754
5 695
5 407
5 701
5.4
Total public gross fixed capital formation
23 575
23 667
23 670
24 129
1.9
Memorandum item
Net purchases of second-hand assets by public sector
334
433
788
387
np

np not available for publication but included in totals where applicable, unless otherwise indicated
(a) See paragraph 35 of the Explanatory Notes for the relationship between general government final consumption expenditure and GFS aggregates.
(b) Reference year for chain volume measures is 2017-18.


Quarters presented in this release

This release presents quarterly government finance statistics on an accrual accounting basis. All tables presented 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 (2017-18) was released on 29 April 2019.

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.


Accounting Standard Changes

The following Australian Accounting Standards Board (AASB) standard changes have been introduced in government financial reporting for periods from 1 July 2019 onwards, leading to increased divergence in certain circumstances between economic statistics publications and government financial reporting:
  • Leases (AASB 16): The standard removes the distinction between operating and finance leases on the lessee side of financial reporting. The conceptual distinction between operating and finance leases still remains in economic statistics. GFS outputs are consistent with the historical treatment.
  • Revenue recognition (AASB 15 & 1058): The standard requires revenue to be recognised when performance obligations are met in certain circumstances. In GFS the change primarily affects grant revenue received by state and territory governments from the Commonwealth. Recognition of grant revenue in GFS remains consistent with the historical treatment which is based on when jurisdictions have access to the funding as reported by the Commonwealth.
  • Service Concession Arrangements (AASB 1059): The standard impacts ownership of non-financial assets. It applies a control concept to determine non-financial asset ownership. Non-financial asset ownership in GFS is determined based off a risk-reward concept consistent with the historical treatment which has been maintained in economic statistics.


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 across 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 20193 March 20204 March 2020
March 2020 2 June 20203 June 2020


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.