The Treasury

Global Navigation

Personal tools

Treasury
Publication

Half Year Economic and Fiscal Update 2015

Forecast Financial Statements

Forecast Statement of Financial Performance for the years ending 30 June

Note 2015
Actual
$m
2016
Previous
Budget
$m
2016
Forecast
$m
2017
Forecast
$m
2018
Forecast
$m
2019
Forecast
$m
2020
Forecast
$m

Revenue

Taxation revenue 1 66,055 68,098 67,648 70,226 74,351 79,134 83,141
Other sovereign revenue 1 4,953 4,606 4,459 4,411 4,546 4,719 4,879
Total revenue levied through the Crown's sovereign power 71,008 72,704 72,107 74,637 78,897 83,853 88,020
Sales of goods and services 16,866 17,253 17,039 17,570 18,280 18,500 18,840
Interest revenue and dividends 2 3,524 4,064 4,067 4,263 4,611 4,994 5,301
Other revenue 3,615 3,580 3,592 3,699 3,752 3,798 3,842
Total revenue earned through the Crown's operations 24,005 24,897 24,698 25,532 26,643 27,292 27,983
Total revenue (excluding gains) 95,013 97,601 96,805 100,169 105,540 111,145 116,003

Expenses

Transfer payments and subsidies 3 23,723 24,482 24,485 25,566 26,440 27,203 28,353
Personnel expenses 4 21,124 21,594 21,849 21,784 21,930 22,066 22,305
Depreciation and amortisation 5 4,842 4,904 4,936 5,113 5,307 5,443 5,510
Other operating expenses 6 35,910 37,689 37,788 37,370 37,685 37,486 37,489
Finance costs 7 4,563 4,687 4,421 4,830 5,077 5,260 5,408
Insurance expenses 8 4,110 4,348 3,997 4,112 4,405 4,751 4,966
Forecast new operating spending 9 305 271 1,123 3,681 5,365 6,936
Top-down expense adjustment 9 (1,025) (1,025) (600) (475) (450) (500)
Total expenses (excluding losses) 94,272 96,984 96,722 99,298 104,050 107,124 110,467
Minority interest share of operating balance before gains/(losses) (327) (441) (484) (515) (533) (536) (591)
Operating balance before gains/(losses) (excluding minority interests) 414 176 (401) 356 957 3,485 4,945
Net gains/(losses) on financial instruments 10 6,196 2,560 576 2,194 2,297 2,478 2,672
Net gains/(losses) on non-financial instruments 11 (1,649) (45) (101) (93) (120) (64) (102)
Less minority interest share of net gains/losses (218) (32) (42) (11) (10) (2) (6)
Total gains/(losses) 4,329 2,483 433 2,090 2,167 2,412 2,564
Net surplus/(deficit) from associates and joint ventures 1,028 331 266 279 279 281 283
Operating balance (excluding minority interests) 12 5,771 2,990 298 2,725 3,403 6,178 7,792

The accompanying notes and accounting policies are an integral part of these Statements.

Page top