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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
March 2022
Released
31/05/2022
  • Next Release 6/09/2022
    Government Finance Statistics, Australia, June 2022
  • Next Release 6/12/2022
    Government Finance Statistics, Australia, September 2022
  • View all releases

Key statistics

In the March quarter 2022:

  • taxation revenue fell 5.7% to $168.4b
  • general government net operating balance rose $3.2b to -$2.2b
  • general government borrowing was $13.6b
  • total public demand is expected to contribute 0.7ppt to the quarterly change in GDP

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

One article is included in this release:

Government finance statistics fiscal measures

Government finance statistics fiscal measures, original
 Jun Qtr 2021Sep Qtr 2021Dec Qtr 2021Mar Qtr 2022Dec Qtr 2021 to
Mar Qtr 2022
$m$m$m$m% change
Taxation revenue
 General government171,283143,102178,627168,361–5.7%
Total revenue
 General government207,096178,847211,118204,381–3.2%
 Public non-financial corporations26,19724,73523,85625,1185.3%
Total expenses
 General government204,878223,608216,467206,578-4.6%
 Public non-financial corporations27,60825,24124,69925,5253.2%
GFS Net Operating Balance
 General government2,218-44,761-5,349-2,197np
 Public non-financial corporations-1,411-506-843-407np
GFS Net Lending (+)/Borrowing (-)
 General government-15,403-52,063-16,053-13,593np
 Public non-financial corporations-4,754-2,131-3,644-1,967np

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

  1. original, current prices

National accounts public sector measures

The table below includes the key public sector aggregates for the March quarter 2022 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 0.7 percentage points to the change in GDP in March quarter 2022.
  • general government final consumption expenditure increased by $3,151m or 2.7% and is expected to contribute 0.6 percentage points to the change in GDP in March quarter 2022.
  • general government gross fixed capital formation increased by $524m or 2.4%.
  • public corporations gross fixed capital formation decreased by -$58m or -1.0%.
  • total public gross fixed capital formation increased by $466m or 1.7% and is expected to contribute 0.1 percentage points to the change in GDP in March quarter 2022.
Quarterly national accounts public sector measures, seasonally adjusted
    Jun Qtr 2021Sep Qtr 2021Dec Qtr 2021Mar Qtr 2022Dec Qtr 2021
to
Mar Qtr 2022
    $m$m$m$m% change
CURRENT PRICES
General government final consumption expenditure (a)
 National-defence9,4329,8169,47510,0986.6
 National-non-defence41,14142,52642,81044,3883.7
 Total national50,57352,34252,28554,4854.2
 State and local62,18165,16466,40467,8272.1
 Total general government final consumption expenditure112,754117,506118,689122,3133.1
Public gross fixed capital formation
 General government
  National-defence2,4992,9162,4122,82517.1
  National-non-defence2,1822,7372,6612,6991.4
  Total national4,6815,6535,0725,5248.9
  State and local17,96816,65017,14317,6402.9
  Total general government22,64922,30322,21523,1644.3
 Public corporations
  Commonwealth1,6181,4211,5091,421-5.9
  State and local4,3104,4314,4664,6083.2
  Total public corporations5,9285,8515,9756,0290.9
 Total public gross fixed capital formation28,57728,15428,19029,1933.6
Total public demand141,331145,660146,880151,5053.1
Memorandum item
 Net purchases of second hand assets by public sector1,220481529564np
 
CHAIN VOLUME (b)
General government final consumption expenditure
 National-defence9,3959,6809,2559,7725.6
 National-non-defence40,24841,37941,45743,1774.2
 Total national49,64351,05950,71252,9504.4
 State and local61,24063,66264,45165,3651.4
 Total general government final consumption expenditure110,883114,720115,163118,3142.7
Public gross fixed capital formation
 General government
  National-defence2,7763,2052,5252,86913.6
  National-non-defence2,1942,7252,6172,6320.6
  Total national4,9705,9295,1425,5017.0
  State and local18,02516,54216,75116,9161.0
  Total general government22,99522,47121,89322,4172.4
 Public corporations
  Commonwealth1,5721,3681,4471,339-7.4
  State and local4,1924,2464,2404,2901.2
  Total public corporations5,7645,6145,6875,629-1.0
 Total public gross fixed capital formation28,76028,08527,58028,0461.7
Total public demand139,642142,805142,743146,3602.5
Memorandum item
 Net purchases of second hand assets by public sector1,198467504528np

— nil or rounded to zero
np indicates this value not available for publication but included in totals where applicable, unless otherwise indicated
(a) See Explanatory Notes for the relationship between general government final consumption expenditure and GFS aggregates
(b) Reference year for chain volume measures in 2019-20 = 100.0

Public expenditure contribution to GDP growth

  1. Chain volume measures seasonally adjusted
  2. using the GDP series as published in the Dec 2021 release of Australian National Accounts: National Income, Expenditure and Product

Revisions and changes

Accounting standard changes

From 1 July 2019, government financial reporting implemented the following Australian Accounting Standards Board (AASB) standard changes:

  • Leases (AASB 16)
  • Revenue recognition (AASB 15 & 1058)
  • Service Concession Arrangements (AASB 1059)

GFS outputs are consistent with the historical treatments, which has resulted in increased divergences between economic statistics publications and government financial reporting.

Revisions

Statistical revisions are carried out regularly in Government Finance Statistics to reflect the most current information and data available.

Upcoming non-government school education revision

The ABS has reclassified payments to non-government schools in the 2020-21 annual GFS publication. This reclassification will be applied in quarterly GFS and the National Accounts from September quarter 2022. This will result in a reclassification of these payments to benefits to households in goods and services in GFS and National Accounts. Commonwealth and state government financial reporting will continue to separately recognise their funding contributions to non-government schools.

For more information refer to 2020-21 GFS annual revisions and changes.

Divergences with government fiscal reporting

Divergences between state and commonwealth government financial reporting and GFS may occur because of conceptual determinations and timing recognition differences, to ensure alignment with economic activity as measured across ABS macroeconomic statistics.

These differences primarily impact:

  • measures of government subsidies and other support payments to businesses and households
  • non-employee expenses
  • change in inventories

Coronavirus (COVID-19)

COVID-19 impacted a range of Government Finance Statistics series over the preceding two years.  As new government policies were announced, the key policies and conceptual determinations were discussed in articles such as Economic measurement during COVID-19: Selected issues in the Economic Accounts, with a quarterly update series, such as Classifying COVID-19 policy interventions during September quarter 2021 in macroeconomic statistics.

Given that the volume of new policies since September quarter 2021 has slowed, this article has been discontinued. The ABS continues to work with GFS data providers on all relevant policy and conceptual determinations.

Previous catalogue number

This release previously used catalogue number 5519.0.55.001.

Data downloads

Government Finance Statistics, Australia