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Legislative Assembly for the ACT: 2002 Week 7 Hansard (6 June) . . Page.. 2104..


The table above shows the difference in the pattern of revenue between the two years. The negative monthly figures indicate where there has been a loss in value of market returns on investments in a particular month.

(5) The change in the pattern of revenue is due to the change in lease sales revenue from land developing agencies, and market return on investments.

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Taxes collected

(Question No 185)

Mr Humphries asked the Treasurer, upon notice, on 4 June 2002:

(1) What is the quantum of other taxes collected in the ACT for the current financial year as at 31 March 2002?

(2) Is the quantum of other taxes collected as at 31 March 2002 greater or less than the estimates prepared for the 2001 ACT Budget?

(3) What has been the trend in the payment of other taxes during the period between 1 October 2001 and 31 March 2002?

(4) How has this pattern of payment of other taxes varied from the same period in the previous financial year?

(5) What has been the basis for any changes in the pattern of payments of other taxes between this and the previous financial year?

Mr Quinlan: The answer to the member's question is as follows:

(1) As at 31 March 2002, $5.8m of Other Taxes has been collected and recorded as revenue.

(2) The 2001 ACT Budget forecasted Other Taxes totalling $4.6m to be recognised as revenue during the 2001-02 financial year. As of 31 March, collections of $5.8m represent 127% of the original budget estimate (or 19% of the revised 2001-002 estimated outcome, which now includes $25.8m of tax waivers).

(3) Total other taxes, as at 1 October 2001 was $2.2m. The average collection, per month, during the period 1 October 2001 to 31 March 2002 was $0.6m.

(4)

Other Taxes

Oct

Nov

Dec

Jan

Feb

Mar

$'000

$'000

$'000

$'000

$'000

$'000

2000-01

Month

5,851

1,296

988

1,910

404

877

YTD

10,124

11,420

12,408

14,318

14,722

15,599

% of Audited Outcome

20%

22%

24%

28%

28%

30%

2001-02

Month

343

46

360

434

1,431

1,034

YTD

2,499

2,545

2,905

3,339

4,770

5,804

% of Est Out

8%

8%

9%

11%

15%

19%

The table above shows the pattern of revenue for the two periods.


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