Page 2520 - Week 09 - Tuesday, 7 August 1990
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CHIEF MINISTER FOR THE AUSTRALIAN CAPITAL TERRITORY
LEGISLATIVE ASSEMBLY QUESTION
Petroleum and Tobacco Franchise Fees
Question No 154
MS FOLLETT - Asked the Treasurer upon notice on 29 May 1990:
what is the reason for the higher than expected 1989-90 revenue from the Business Franchise Fees for (a) petroleum, and (b) tobacco, which is revealed in the Forward Estimates Report.
MR KAINE - The answer to the members question is as follows:
The original budget estimates of $11.4m for petroleum franchise fees and $10.3m for tobacco franchise fees took into account revenue received in 1988-89, the rates of tax to apply during 1989-90 and assumptions about factors which may impact on sales of petroleum and tobacco products. The impact of these factors is often difficult to quantify.
As part of the usual budget outcome monitoring process, the estimates for petroleum and tobacco franchise fees were increased in January 1990 by SO.6m (5%) and $0.7m (7%) respectively. The revisions were based on actual receipts during the first half of the financial year.
Since the publication of the Forward Estimates Report, the estimate for petroleum franchise fees has been increased by a further $0.4m (3%) to $12.4m in light of actual receipts., Tobacco franchise fee receipts are still expected to total 511m in 1989-90.
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