Government Finance Statistics, Australia

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

Reference period

June 2024

Released

3/09/2024

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Release date and time

03/09/2024 11:30am AEST

Key statistics

In June quarter 2024:

general government net operating balance rose $10.5b to $15.0b, since March quarter 2024
taxation revenue rose 17.5% to $226.8b, since March quarter 2024
general government borrowing was $7.1b
total public demand is expected to contribute 0.4 ppt to the quarterly change in GDP

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

Included in this publication is an Insights into Government Finance Statistics, June 2024, which examines the key stories and economic narratives of the June quarter 2024 Government Finance Statistics data.

Government Finance Statistics measures

Government finance statistics fiscal measures
		Sep Qtr 2023	Dec Qtr 2023	Mar Qtr 2024	Jun Qtr 2024	Mar Qtr 2024 to Jun Qtr 2024
		$m	$m	$m	$m	% change
Taxation revenue
	General government	178,063	201,645	193,036	226,793	17.5%
Total revenue
	General government	218,792	238,782	236,682	270,494	14.3%
	Public non-financial corporations	27,305	26,737	28,500	32,075	12.5%
Total expenses
	General government	229,347	236,111	232,186	255,519	10.0%
	Public non-financial corporations	27,187	27,149	28,457	30,777	8.2%
GFS Net Operating Balance
	General government	-10,555	2,672	4,496	14,975	na
	Public non-financial corporations	118	-411	43	1,298	na
GFS Net Lending (+)/Borrowing (-)
	General government	-21,977	-12,044	-7,433	-7,148	na
	Public non-financial corporations	-3,908	-7,234	-4,524	-7,047	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)
Jun-23	265.3	-233.8	31.5
Sep-23	218.8	-229.3	-10.6
Dec-23	238.8	-236.1	2.7
Mar-24	236.7	-232.2	4.5
Jun-24	270.5	-255.5	15.0

Net operating balance of all levels of general government

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

[["Jun-23","Sep-23","Dec-23","Mar-24","Jun-24"],[[265.3],[218.8],[238.8],[236.7],[270.5]],[[-233.8],[-229.3],[-236.1],[-232.2],[-255.5]],[[31.5],[-10.6],[2.7],[4.5],[15]]]

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National accounts public sector measures

The table below includes the key public sector aggregates for June quarter 2024 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 June quarter 2024
general government final consumption expenditure rose $1912m (up 1.4%) and is expected to contribute 0.3 percentage points to the change in GDP in June quarter 2024
general government gross fixed capital formation rose $585m (up 2.5%)
public corporations gross fixed capital formation fell $81m (down 0.9%)
total public gross fixed capital formation rose $505m (up 1.5%) and is expected to contribute 0.1 percentage points to the change in GDP in June quarter 2024

Contributions may not be additive due to rounding

Quarterly national accounts public sector measures, seasonally adjusted
			Sep Qtr 2023	Dec Qtr 2023	Mar Qtr 2024	Jun Qtr 2024	Mar Qtr 2024 to Jun Qtr 2024
			$m	$m	$m	$m	% change
CURRENT PRICES
General government final consumption expenditure (a)
	National-defence		12,583	12,293	12,529	12,462	-0.5
	National-non-defence		55,252	57,138	58,722	60,844	3.6
	Total national		67,836	69,431	71,250	73,306	2.9
	State and local		76,250	77,490	78,593	80,223	2.1
	Total general government final consumption expenditure		144,086	146,921	149,843	153,529	2.5
Public gross fixed capital formation
	General government
		National-defence	2,982	2,925	3,398	3,588	5.6
		National-non-defence	2,835	2,862	2,812	2,744	-2.4
		Total national	5,817	5,787	6,211	6,331	1.9
		State and local	21,095	20,529	20,456	21,311	4.2
		Total general government	26,912	26,317	26,667	27,643	3.7
	Public corporations
		Commonwealth	3,268	3,174	3,187	3,036	-4.7
		State and local	7,114	7,451	7,190	7,341	2.1
		Total public corporations	10,383	10,625	10,377	10,377	0.0
	Total public gross fixed capital formation		37,295	36,942	37,044	38,020	2.6
Total public demand			181,380	183,863	186,887	191,549	2.5
Memorandum item
	Net purchases of second hand assets by public sector		710	539	552	1,701	208.0
	Public authorities changes in inventories (c)		-1,180	390	139	1,075	na

CHAIN VOLUME (b)
General government final consumption expenditure
	National-defence		11,496	11,075	11,130	10,996	-1.2
	National-non-defence		51,787	52,917	53,886	55,128	2.3
	Total national		63,283	63,992	65,016	66,124	1.7
	State and local		70,290	70,320	70,919	71,723	1.1
	Total general government final consumption expenditure		133,573	134,312	135,935	137,847	1.4
Public gross fixed capital formation
	General government
		National-defence	2,638	2,530	2,925	3,080	5.3
		National-non-defence	2,663	2,657	2,616	2,516	-3.8
		Total national	5,302	5,186	5,542	5,596	1.0
		State and local	18,893	18,168	17,880	18,412	3.0
		Total general government	24,194	23,354	23,422	24,007	2.5
	Public corporations
		Commonwealth	3,019	2,910	2,888	2,736	-5.3
		State and local	6,490	6,732	6,417	6,487	1.1
		Total public corporations	9,509	9,642	9,304	9,223	-0.9
	Total public gross fixed capital formation		33,704	32,996	32,726	33,231	1.5
Total public demand			167,277	167,308	168,661	171,077	1.4
Memorandum item
	Net purchases of second hand assets by public sector		634	470	471	1,435	204.6
	Public authorities changes in inventories (c)		-1,512	1,151	-544	518	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, June 2024.
Reference year for chain volume measures is 2021-22
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)
Jun-21	0.4	0.4
Sep-21	0.7	-0.1
Dec-21	0.2	0.0
Mar-22	0.6	0.1
Jun-22	-0.1	0.2
Sep-22	0.0	-0.1
Dec-22	0.2	0.0
Mar-23	0.0	0.2
Jun-23	0.2	0.4
Sep-23	0.3	0.1
Dec-23	0.1	-0.1
Mar-24	0.3	0.0
Jun-24	0.3	0.1

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

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

[["Jun-21","Sep-21","Dec-21","Mar-22","Jun-22","Sep-22","Dec-22","Mar-23","Jun-23","Sep-23","Dec-23","Mar-24","Jun-24"],[[0.4],[0.7],[0.2],[0.6],[-0.1],[0],[0.2],[0],[0.2],[0.3],[0.1],[0.3],[0.3]],[[0.4],[-0.1],[0],[0.1],[0.2],[-0.1],[0],[0.2],[0.4],[0.1],[-0.1],[0],[0.1]]]

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Chain volume measures seasonally adjusted
using the GDP series as published in the March 2024 release of Australian National Accounts: National Income, Expenditure and Product

Revisions and changes

Revisions

Divergences with government fiscal reporting

Previous catalogue number

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