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Legislative Assembly for the ACT: 2002 Week 9 Hansard (21 August) . . Page.. 2725..


Answers to questions

Debits tax

(Question No 169)

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

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

(2) Is the quantum of debits tax 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 debits tax during the period between 1 October 2001 and 31 March 2002?

(4) How has this pattern of payment of debits tax 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 debits 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, $10.6m of Debits Tax had been collected and recorded as revenue.

(2) The 2001 ACT Budget forecasted Debits Tax totalling $14.7m to be recognised as revenue during the 2001-02 financial year. As of 31 March, collections of $10.5m represent 71% of the original budget estimate (or 75% of the 2001-02 estimated outcome).

(3) Total Debits Tax, as at 1 October 2001 was $3.4m. The average collection, per month, during the period 1 October 2001 to 31 March 2002 was $1.2m.

(4)

Debits Tax Oct Nov Dec Jan Feb Mar

$'000 $'000 $'000 $'000 $'000 $'000

2000-01 Month 417 1,270 1,212 1,316 1,001 1,061

YTD 4,710 5,980 7,192 8,508 9,509 10,570

% of Audited 33% 42% 51 % 60% 68% 75%

Outcome

2001-02 Month 1,521 572 1,166 1,611 1,155 1,044

YTD 4,906 5,478 6,644 8,255 9,410 10,454

% of Est Out 35% 39% 48% 59% 68% 75%

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

(5) The pattern of payments for debits tax has remained fairly consistent from 2000-01 to 2001-02.


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