Budget 2019

The Treasury's Economic and Fiscal Forecasts

Sovereign revenue

Table 20 - Sovereign revenue

Year ending 30 June
$millions
2018
Actual
2019
Forecast
2020
Forecast
2021
Forecast
2022
Forecast
2023
Forecast
Direct taxation            
Individuals tax 35,997 37,409 40,528 43,394 45,840 48,582
Corporate tax 13,495 14,835 14,504 15,344 16,014 16,851
Other direct income tax 2,284 2,356 2,471 2,759 3,240 3,635
Total direct income tax 51,776 54,600 57,503 61,497 65,094 69,068
Indirect taxation            
Goods and services tax 20,813 21,976 23,362 24,892 26,258 27,594
Other indirect taxation 7,007 7,381 7,676 7,921 7,991 8,085
Total indirect tax 27,820 29,357 31,038 32,813 34,249 35,679
Total taxation revenue 79,596 83,957 88,541 94,310 99,343 104,747
Other sovereign revenue 5,223 5,827 6,027 6,233 6,533 6,731
Total sovereign revenue 84,819 89,784 94,568 100,543 105,876 111,478

Source: The Treasury

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