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Government Finance Statistics, Australia

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

Reference period
September 2020

Key statistics

In the September quarter 2020:

  • total taxation revenue decreased 10.1% to $127.1 billion
  • general government net operating balance was a deficit of -$93.6 billion
  • GFS net lending(+)/borrowing(-) position was -$101.0 billion

Main Features

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

Table 1 - Quarterly key figures
  Dec Qtr 2019Mar Qtr 2020Jun Qtr 2020Sep Qtr 2020Jun Qtr 2020
to Sep Qtr 2020
  $m$m$m$m% change
Public sector measures, seasonally adjusted, chain volume (a) (b)
 General government final consumption expenditure (c)97 47499 370102 346103 7941.4%
 General government gross fixed capital formation20 17819 61419 95619 574-1.9%
 Total public gross fixed capital formation25 84425 69725 55825 6220.3%
Key fiscal aggregates, all levels of general government, original
 Taxation Revenue145 711137 893141 378127 088-10.1%
 Net Operating Balance1 415-7 939-83 791-93 567np
 Net Lending (+)/borrowing (-)-9 409-15 669-99 526-100 987np
np not available for publication but included in totals where applicable, unless otherwise indicated
(a) Public sector aggregates for the September quarter 2020 will be included in the Australian National Accounts: National Income, Expenditure and Product .
(b) Reference year for chain volume measures is 2018-19.
(c) See Explanatory Notes for the relationship between general government final consumption expenditure and GFS aggregates.
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  1. using the GDP series as published in the June 2020 release of Australian National Accounts: National Income, Expenditure and Product
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Coronavirus (COVID-19)

COVID-19 impacted a range of Government Finance Statistics series in the September quarter 2020. Key policies and conceptual determinations are discussed in the article Economic measurement during COVID-19: Selected issues in the Economic Accounts. Further ABS data measuring the impact of COVID-19 can be found via abs.gov.au/covid19.

Commonwealth subsidy expenses for June quarter 2020 have been revised due to updated timing calculations used by the ABS. Timing differences in recording of these subsidies will result in a divergence between the Commonwealth Government financial reporting and ABS published macroeconomic statistics.

What's new this quarter

One spotlight article is included in this release:

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.

Key Tables

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Quarterly national accounts public sector measures - key figures

The table below includes the key public sector aggregates for the September quarter 2020 which will be included in the Australian National Accounts: National Income, Expenditure and Product. 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:

  • public sector demand is expected to contribute 0.3 percentage points to the change in GDP in September quarter 2020.
  • general government final consumption expenditure increased by $1,448m or 1.4% and is expected to contribute 0.3 percentage points to the change in GDP in September quarter 2020.
  • general government gross fixed capital formation decreased by $382m or -1.9%
  • public corporations gross fixed capital formation increased by $446m or 8.0%
  • total public gross fixed capital formation increased by $64m or 0.3% and is expected to contribute 0.0 percentage points to the change in GDP in September quarter 2020.
Table 2 - Quarterly national accounts public sector measures, key figures, seasonally adjusted
    Dec Qtr 2019Mar Qtr 2020Jun Qtr 2020Sep Qtr 2020Jun Qtr 2020 to
Sep Qtr 2020
    $m$m$m$m% change
CURRENT PRICES
General government final consumption expenditure (a)
 National-defence9 1039 2729 8039 8180.2
 National-non-defence34 11534 55534 70636 9316.4
 Total national43 21843 82744 50946 7495.0
 State and local55 80857 17459 84859 486-0.6
 Total general government final consumption expenditure99 025101 001104 357106 2361.8
Public gross fixed capital formation
 General government
  National-defence2 9162 6862 4842 6024.8
  National-non-defence2 6632 7042 5312 399-5.2
  Total national5 5795 3895 0155 001-0.3
  State and local14 94614 55215 28014 746-3.5
  Total general government20 52619 94120 29419 747-2.7
 Public corporations
  Commonwealth2 3682 2532 0302 026-0.2
  State and local3 4273 9783 7304 19012.3
  Total public corporations5 7956 2315 7606 2167.9
 Total public gross fixed capital formation26 32126 17326 05425 963-0.3
Total public demand125 346127 173130 411132 1991.4
Memorandum item
 Net purchases of second hand assets by public sector7996701 212621. .
 
CHAIN VOLUME (b)
General government final consumption expenditure
 National-defence8 9159 0399 5269 502-0.3
 National-non-defence33 63034 30534 20936 2836.1
 Total national42 54543 34443 73545 7854.7
 State and local54 92956 02658 61058 009-1.0
 Total general government final consumption expenditure97 47499 370102 346103 7941.4
Public gross fixed capital formation
 General government
  National-defence2 7662 5192 2772 51810.6
  National-non-defence2 6432 6882 5122 395-4.7
  Total national5 4095 2074 7904 9132.6
  State and local14 76814 40715 16614 661-3.3
  Total general government20 17819 61419 95619 574-1.9
 Public corporations
  Commonwealth2 3212 2031 9791 977-0.1
  State and local3 3463 8803 6234 07112.3
  Total public corporations5 6666 0825 6026 0488.0
 Total public gross fixed capital formation25 84425 69725 55825 6220.3
Total public demand123 318125 067127 904129 4161.2
Memorandum item
 Net purchases of second hand assets by public sector7866621 195613. .
— nil or rounded to zero
(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 in 2018-19 = 100.0
Table 3 - Government Finance Statistics, key figures, current prices, original series
  Dec Qtr 2019Mar Qtr 2020Jun Qtr 2020Sep Qtr 2020Jun Qtr 2020
to Sep Qtr 2020
  $m$m$m$m% change
Taxation revenue
 General government145 711137 893141 378127 088-10.1%
Total revenue
 General government177 832169 307170 538159 410-6.5%
 Public non-financial corporatons22 11622 53423 82823 437-1.6%
Total expenses
 General government176 417177 246254 330252 977-0.5%
 Public non-financial corporatons24 51824 22526 23625 198-4.0%
GFS Net Operating Balance
 General government1 415-7 939-83 791-93 567np
 Public non-financial corporatons-2 402-1 691-2 408-1 761np
GFS Net Lending (+)/Borrowing (-)
 General government-9 409-15 669-99 526-100 987np
 Public non-financial corporatons-3 876-4 893-5 276-4 907np
np indicates this value not available for publication but included in totals where applicable, unless otherwise indicated

Analysis

Net operating balance continues to fall

Total General Government net operating balance was -$93.6 billion, a fall of $9.8 billion from the June quarter estimate of -$83.8 billion.
The Commonwealth government was the major contributor to the fall, decreasing $19.7 billion from the June quarter estimate of -$68.5 billion, reflecting a number of new and ongoing economic support packages provided to businesses, employees, and households in response to the COVID-19 pandemic.
Through the year, total General Government net operating balance fell $80.2 billion, with the Commonwealth government net operating balance decreasing by $73.4 billion.

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  1. Commonwealth and State & Local Net Operating Balance are not additive to All Australia Net Operating Balance due to consolidation and the inclusion of public universities

Total State and local general government net operating balance improves slightly from June quarter

Total state and local general government net operating balance increased to -$6.6 billion, from the June quarter estimate of -$13.9 billion. This $7.3 billion improvement partially offsets the fall in the Commonwealth government net operating balance. The majority of state and local governments showed an improved net operating balance compared to last quarter. 
Western Australia is the only state to return to a positive net operating balance, and show an improvement through the year since September 2019, due in part to strong revenues from royalties and an increased GST allocation.
Through the year, total State and local general government net operating balance fell $7.0 billion, with Victoria recording the most significant fall followed by New South Wales and Queensland, reflecting a continuation of increased spending on subsidies and health services since the beginning of the COVID-19 pandemic. 

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Expenditure falls slightly in September 2020, but remains at elevated levels due to ongoing COVID-19 support and increased health benefits

Total expenditure fell 0.5% from June quarter 2020 to $253.0 billion, driven by a slight reduction in COVID-19 related subsidies and partially offset by increased payments related to the Medicare and Pharmaceutical Benefits Schemes. Through the year growth remained strong at 42.6%, reflecting a continuation of significant economic support programs such as JobKeeper, Boosting cash flow for employers, the Coronavirus Supplement and other COVID-19 related payments.
Total revenue decreased 6.5% from June quarter 2020 and fell 2.8% through the year to $159.4 billion, primarily as a result of lower taxation. This through the year fall has shown a modest recovery relative to the 11.1% fall observed in June quarter 2020. 

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Taxation revenue recovers

Taxation revenue recorded a 1.2% fall through the year, improving on the 8.1% through the year fall recorded in June quarter 2020.

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Commonwealth taxation revenue remains flat through the year

Total Commonwealth government taxation revenue remained flat through the year at 0.0% (down $9 million). Weakened domestic economic activity and global trade drove the declines in taxation such as company income tax (down 3.8% or $830 million) and excises on petroleum products (down 10.2% or $549 million).
This weakness was offset by through the year growth in personal income tax (up 12.3% or $4.3 billion) and GST (up 1.3% or $206 million). The through the year increase in personal income tax is largely driven by a weaker September quarter 2019, where a new tax relief policy lead to a higher volume of income tax refunds paid out early in the 2019-20 financial year. The modest through the year GST growth is due to a recovery in consumer spending as COVID-19 restrictions eased across most jurisdictions in the September quarter 2020.

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State and local government taxation revenue falls through the year

Total State and local government taxation revenue fell 5.8% ($1.6 billion) through the year to September quarter 2020. This mainly reflects a continuation of payroll tax waiver policies in response to the COVID-19 pandemic. In addition, continued business closures contributed to the 6.2% ($527 million) fall through the year in taxes on the provision of goods and services. This led to a reduction in gambling taxes. Offsetting this was a slight rise in stamp duties on conveyances.

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Public investment remains steady at elevated levels

All Australia public investment growth remains subdued in September quarter 2020, with growth of 2.7% ($398 million) through the year in All Australia general government (GG), offset by a slight decrease of -0.8% (-$43 million) in All Australia public non-financial corporations (PNFCs). This follows a period of strong growth in Public Investment since December quarter 2018 driven by the larger jurisdictions, most of which have observed significantly reduced growth through the year in recent quarters. Victoria is slightly offsetting this trend with three successive quarters of growth through the year driving the slight recovery at All Australia level this quarter.

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Deterioration in net worth continues

Total General Government net worth was $10.1 billion, a fall of $124.8 billion from the June quarter estimate, as the increase in liabilities was greater than the increase in assets. The large incurrence of liabilities is as a result of significant amounts of debt securities issued by both Commonwealth and state governments to fund expenditure to support the economy during the COVID-19 pandemic. Through the year, General Government net worth decreased $236.7 billion.
Net financial worth was -$939.3 billion, a fall of $126.9 billion from the June quarter estimate, with the Commonwealth government contributing the majority of the fall. Net financial worth decreased by a further $286.1 billion through the year.

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University revenue stabilises as expenditure continues to soften

International travel restrictions on arrivals to Australia were introduced in March in response to the global COVID-19 pandemic. As a result, international student numbers reduced substantially and university fee revenue declined strongly.

In response, the university sector introduced a range of measures to reduce expenditure, including: scope reductions or postponement of both new and ongoing capital works; restructuring of course offerings; and a reduction in overall staffing levels. 

In September quarter 2020, the reduction in revenue stabilised due in part to increased availability of online learning facilities, while operating and capital expenditure continued to show stronger declines in growth through the year.

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Spotlight: Classifying COVID-19 policy interventions in macroeconomic statistics

Introduction

The COVID-19 pandemic led to the fastest and largest fiscal response to an economic event in modern Australian history, with several hundred policy interventions announced across all levels of government. To put the size of the fiscal response into historical context, expenditure on the JobKeeper wage subsidy alone totalled $70.9 billion by 30 September 2020, compared to total Commonwealth government expenditure of $57.1 billion on all stimulus policies to address the 2008 to 2009 Global Financial Crisis (GFC).

This spotlight provides a summary of the conceptual classification of key COVID-19 policies in place during the September quarter 2020. For comparative purposes classifications of key GFC policy interventions are also presented.

The ABS continue to undertake extensive consultation with stakeholders and subject matter experts to determine appropriate classifications for COVID-19 policy interventions. These classifications are based on well-established conceptual frameworks (footnote 1), which ensure consistent recording of these policies across macroeconomic statistics, particularly in relation to Government Finance Statistics (GFS) and the National Accounts (NA).

Classification of COVID-19 policies

The COVID-19 policies are grouped into five broad categories (footnote 2):

  • Increased healthcare and frontline services spending
  • Provision of assistance to households
  • Provision of assistance to corporations, unincorporated enterprises and non-profit institutions
  • Relaxation of tax and non-tax revenue obligations
  • Capital injections, establishment of new, or extended, lending facilities and provision of guarantees

Key COVID-19 policies impacting September quarter

Similar to June quarter 2020, the majority of fiscal support was targeted at healthcare spending and provision of assistance to households, businesses and non-profit institutions.

Spending on subsidies by the Commonwealth and state and territory governments remained at record levels, driven primarily by JobKeeper and the Boosting Cash Flow for Employers policies, as well as smaller targeted industry subsidies and state and territory-based cash payments to businesses.

Spending on current monetary transfers to eligible households by the Commonwealth government also remained at record levels, driven by the second round of Economic Support Payments and the temporary JobSeeker Coronavirus Supplements.

Healthcare spending continued to drive the strength in general government final consumption expenditure, reflecting ongoing COVID-19 health response expenditure on frontline staff and personal protective equipment (PPE). Expenditure on Medicare and pharmaceutical benefits also increased in the September quarter as COVID-19 testing continued and households returned to their health care providers as lockdowns eased in many states and territories.

Table 1 presents a summary of the ABS classification of the key COVID-19 policy interventions in place during September quarter (footnote 3).

Table 1: Classification of COVID-19 policies across Commonwealth and State and Territory levels of government
Types of COVID-19 policiesExamples of policiesClassification in GFS and NA (footnote 4)
Increased healthcare and frontline services spending
Additional hospital fundingCommonwealth and state: (footnote 5) Co-funding to cover additional hospital costsGFS: Current grants

NA: Income accounts - Current transfers
Additional spending on public sector workforceCommonwealth: Deploying both defence and non-defence staff for COVID-19 response activities

State: Deploying both clinical and non-clinical staff for COVID-19 health response in public hospitals; Deploying police and other staff to manage quarantine, lockdowns and contact tracing; Vocational education expansion to support economic recovery
GFS: Employee expenses

NA: GDP (E) - Government final consumption expenditure, GDP (I) - Compensation of employees
Additional spending on healthcare consumablesCommonwealth: Expenditure on PPE for the National Medical Stockpile; Membership of the international COVAX facility

State: PPE expenditure for state-based medical stockpiles
GFS: Accounts receivable (prepayments), Use of goods & services, Change in inventories

NA: GDP (E) - Government final consumption expenditure, Change in inventories
Additional spending on private hospital services, staff training, contractors and communicationCommonwealth and state: Private hospital COVID-19 partnership agreements; Cleaning of publicly owned assets; COVID-19 communication campaigns; COVID-19 hotlinesGFS: Use of goods & services

NA: GDP (E) - Government final consumption expenditure
New and accelerated infrastructure investmentState: Fast-tracked purchases of ambulances and medical equipment; Infrastructure investment as economic stimulus (including Commonwealth co-funding)GFS: Acquisition of new non-financial assets

NA: GPD (E) - Public gross fixed capital formation
Provision of assistance to households
Cash payments to householdsCommonwealth: Economic Support Payments; JobSeeker Coronavirus Supplement; Fair Entitlements Guarantee; Reducing deeming rates for retirees

State: Other state-based hardship payments to households
GFS: Current monetary transfers to households

NA: Income accounts - Social assistance benefits
Additional healthcare services to households outside of hospitalsCommonwealth: Expanded telehealth services for Medicare; Home Medicines Services for PBS; Provision of free COVID-19 pathology testsGFS: Social benefits to households in goods and services

NA: GDP (E) - Government final consumption expenditure
Other rebates and support for householdsCommonwealth: Early Childhood Education and Care Relief Package and Child Care Subsidy (footnote 6); Additional aged care supplements; Employment support services

State: Rebates to households for electricity bills; Other targeted concessions for households
GFS: Social benefits to households in goods and services

NA: GDP (E) - Government final consumption expenditure
Capital transfers to householdsCommonwealth: HomeBuilder grants for new dwellings and large renovations

State: First Home Owner Grants for new dwellings
GFS: Capital transfer expenses nec

NA: Capital account - Capital transfers, GPD (E) - Private gross fixed capital formation (Dwellings)
Access to superannuation savingsCommonwealth: Early release of superannuationGFS: No GFS classification is applicable

NA: Financial account and Balance sheet - Net equity in pension funds
Provision of assistance to corporations, unincorporated enterprises and non-profit institutions
Wage subsidiesCommonwealth: JobKeeper; Wage subsidies for apprentices; Aged care staff retention bonus; Child Care Transition Payment (footnote 6)GFS: Other subsidies on production

NA: GDP (I) - Other subsidies on production
Cash support payments to eligible producersCommonwealth: Boosting Cash Flow for Employers

State: Other state-based cash payments to businesses (e.g. Business Support Fund and Sole Trader Support Fund in Victoria); Electricity rebates for businesses
GFS: Other subsidies on production

NA: GDP (I) - Other subsidies on production
Targeted industry support for market producersCommonwealth: Australian Airline Financial Relief Package; Restart Investment to Sustain and Expand Fund; Temporary Interruption Fund; Zoos and Aquariums Support Package; Australian Screen Production Incentive

State: Payments to taxi operators; Support for professional sporting organisations and the racing industry; Licensed Hospitality Venue Fund and Outdoor Eating & Entertainment Package in Victoria
Classifications vary depending on policy details

GFS: Other subsidies on production, Subsidies on products

NA: GDP (I) - Total subsidies on production, GPD (P) - Subsidies on products
Targeted industry support for non-market producersCommonwealth: Medical Research Future Fund; Funding for charities that provide emergency and food relief; Mental health support services; Funding for aeromedical services

State: Medical research grants; Funding for charities affected by COVID-19 lockdown; Domestic violence, mental health and homelessness support services
GFS: Current transfer expenses nec

NA: Income accounts - Other current transfers
Relaxation of tax and non-tax revenue obligations
Refunds, waivers and deferrals for various taxes, licenses and feesCommonwealth: Key examples include GST and commercial broadcasting taxes

State: Key examples include payroll, land, liquor, gambling, fishing and stamp duty related policies
GFS: Sales of goods and services, Various taxes classifications

NA: GDP (E) - Government final consumption expenditure, GDP (I) - Total taxes on production, GPD (P) - Taxes on products
Investment incentivesCommonwealth: Increases and expansions to instant asset write-off policies for businessesGFS: Company tax

NA: Income accounts - Current taxes on income, GPD (E) - Private gross fixed capital formation
Capital injections, establishment of new, or extended, lending facilities and provision of guarantees
Loan guaranteesCommonwealth: SME Guarantee Scheme; First Home Loan Deposit Scheme

State: Loan guarantees for public universities
GFS: Contingent liabilities

NA: Not recognised
Equity injectionsState: Government equity injections into public non-financial corporationsGFS: Equity including contributed capital

NA: Financial account and Balance sheet - Shares and other equity
Access to low cost loansCommonwealth: RBA Term Funding Facility for banks

State: Low-interest loans for local government and public universities
GFS: Advances: Concessional or other

NA: Financial account and Balance sheet - Loan and debt security markets (repurchase agreements)
Footnote
1. These frameworks are supported by international standards such as the International Monetary Fund (IMF) Government Finance Statistics Manual 2014 (GFSM 2014) and the System of National Accounts 2008 (2008 SNA).
2. The categories are broadly based on the recommendations in “COVID-19: How to Record Government Policy Interventions in Fiscal Statistics” (IMF, 2020)
3. Table 1 summarises key policies with an impact on the macroeconomic accounts and does not cover every specific COVID-19 government policy in Australia.
4. NA includes the gross domestic product (GDP) accounts, which are measured using the expenditure approach (GDP (E)), the income approach (GDP (I)) or the production approach (GDP (P)). NA also includes income accounts, capital accounts, financial accounts and balance sheets.
5. ‘States’ refers to the state sector in macroeconomic statistics which covers all eight state and territory jurisdictions in Australia.
6. Commonwealth support for the child care industry during the COVID-19 pandemic transitioned between different policies including the existing Child Care Subsidy (prior to 6 April and after 12 July 2020), the Early Childhood Education and Care Relief Package (6 April to 12 July 2020), JobKeeper assistance (30 March to 12 July 2020) and the Child Care Transition Payment (13 July to 27 September 2020).
 

Classification of GFC economic stimulus policies

The economic impact of the GFC between 2008 and 2009 led to a significant fiscal response in Australia at the time. The ABS classification of key GFC policy interventions is summarised in Table 2 below. The classifications highlight the demand-driven nature of GFC stimulus policies compared to the more diverse mix of supply and demand-driven policies in response to the COVID-19 pandemic.

Table 2: Classification of GFC policies across Commonwealth and State and Territory levels of government
Types of GFC policiesExamples of policiesClassification in GFS and NA
Increased public investment spending
New and accelerated infrastructure investmentCommonwealth: Capital grant funding to state and local governments

State: Nation Building Plan for investment in road, rail, ports and social housing; Building the Education Revolution program for school upgrades
GFS: Acquisition of new non-financial assets

NA: GPD (E) - Public gross fixed capital formation and Private gross fixed capital formation
Provision of assistance to households
Cash payments to householdsCommonwealth: One-off support payments for pension recipients and families; $950 one-off cash bonuses for individuals and householdsGFS: Current monetary transfers to households

NA: Income accounts - Social assistance benefits
Capital transfers to householdsCommonwealth: Increasing the First Home Buyers Grant for all dwelling purchases; Energy Efficient Homes program for ceiling insulationGFS: Capital transfer expenses nec

NA: Capital account - Capital transfers payable, GPD (E) - Private gross fixed capital formation (Dwellings)
Provision of assistance to businesses
Targeted industry supportCommonwealth: New Car Plan including a Green Car Innovation Fund and the Automotive Transformation SchemeGFS: Other subsidies on production

NA: GDP (I) - Other subsidies on production
Investment incentivesCommonwealth: Increases and expansions to asset write-off policies for businessesGFS: Company tax

NA: Income accounts - Current taxes on income, GPD (E) - Private gross fixed capital formation
Provision of guarantees
Loan guaranteesCommonwealth: Guarantee Scheme for Large Deposits and Wholesale FundingGFS: Sales of goods and services, Contingent liabilities

NA: GDP (E) - Government final consumption expenditure, Contingent liabilities not recognised
     

Reference

Commonwealth Treasury (2009), “Australia’s Response to the Global Financial Crisis”, Speech by Dr Steven Kennedy, Treasury website, viewed at https://treasury.gov.au/speech/australias-response-to-the-global-financial-crisis 

IMF (2020), "COVID-19: How to Record Government Policy Interventions in Fiscal Statistics", Special Series on Statistical Issues in Response to COVID-19, IMF publication, viewed at https://www.imf.org/en/Publications/SPROLLs/covid19-special-notes 

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Table 1 - Government Finance Statistics, Australia

Previous catalogue number

This release previously used catalogue number 5519.0.55.001.