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  • Revenue

    The net GST cash outcome (excluding non-GIC penalties) in 2017–18 was $63.1 billion, including net Home Affairs of $3.9 billion. This was 1.3% (or $783.5 million) above the 2017–18 Budget estimate of $62.3 billion and 0.5% ($317 million) below the revised Budget estimate of $63.4 billion.

    This outcome was 5.5% (or $3.3 billion) higher than 2016–17 collections. This was consistent with the growth in household consumption, which had accompanied a decline in the household savings rate, buoyed by high levels of household wealth. Collections had also been supported by continued growth in new dwelling investment.

    At an industry level, there was weakness in most industries but particularly in the communications, construction and government sectors. There was some strength in the wholesale and professional services industries.

    The difference between net GST accruals (on a tax liability method basis)1 and cash collections was $1.6 billion. Gross GST debt was the most significant component of this difference.

    The estimated total statement outcome for the June 2017 to May 2018 business activity statements (excluding GST collected by Home Affairs) was $59.6 billion. The final outcome will not be confirmed until all BAS lodgments have been lodged and processed.

    Figure 5: Revenue results for 2013–2018

    This graph shows that collections growth improved in 2017–18, at 5.5% compared to 4.3% in 2016–17. Results: 2012–13 $48.1b; 2013–14 $51.1b; 2014–15 $54.3b; 2015–16 $57.4b; 2016–17 $59.8b; and 2017–18 $63.1b.

    1 Tax liability method (TLM) is defined as being the earlier of the cash payment being received or the associated liability being recognised.

      Last modified: 18 Mar 2019QC 58283