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  • Revenue

    Net GST cash collections (excluding non-GIC penalties) in the 2018–19 financial year was $65.2 billion, including net Home Affairs collections of $4.2 billion(a).This was 3.2% (or $2.2 billion) below the 2018–19 Budget estimate of $67.3 billion and 0.7% ($0.5 billion) below the revised Budget estimate of $65.6 billion.

    The downward revision from the original Budget estimate to the revised Budget estimate was attributable to weaker collections to date in 2018–19 and weaker economic forecasts in 2018–19. The final cash collections outcome for 2018–19 was slightly lower than the revised Budget estimate, consistent with weaker-than-expected growth in consumption and dwelling investment.

    The 2018–19 cash outcome was 3.2% (or $2.0 billion) higher than 2017–18 collections.

    Cash and accruals

    This year, net GST cash collections was $65.2 billion; however, net GST accrued on a tax liability method (TLM)(b) was $66.7 billion. The difference between net GST accruals (TLM) and cash collections was $1.5 billion(c). GST bad debt was the most significant component of this difference.

    Figure 2: Revenue (cash) results for 2014–15 to 2018–19

    This graph shows that collections growth improved in 2018–19, with growth of 3.2% compared to 5.5% in 2017–18. The result in 2014–15 was $54.3b, 2015–16 $57.4b, 2016–17 $59.8b, 2017–18 $63.1b, and 2018–19 $65.2b.

    NOTES:(a) The net Home Affairs figure of $4.2 billion excludes the Tourist Refund Scheme refunds of $256.8 million.(b) Tax liability method (TLM) is defined as being the earlier of the cash payment being received or the associated liability being recognised.(c) Totals may differ from the sum of components due to rounding.

    See also:

      Last modified: 01 Jul 2020QC 61031