Adani Stock Decline All Australia total taxation revenue continued to grow reaching 801 7b in 2023 24 up 6 1 while taxation revenue as a percentage of GDP was 30 0 Positive annual growth
6 2 billion more GST in 2024 25 than it would have under the previous GST distribution arrangements The increase in Western Australia s GST relativity from the GST floor lowers NSW Queensland and Victoria will each receive more than 1 billion in top up payments in 2024 25 This money comes from the federal government s general revenue not
Adani Stock Decline
Adani Stock Decline
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The 2024 25 Budget included transfers of 185 9 billion from the Australian Government to state governments This comprised 93 7 billion for GST related payments 91 5 billion in 6 Determination of amounts used to calculate GST revenue for the 2023 24 payment year We acknowledge the traditional owners and custodians of country throughout
GST revenue shrank to a record low of 13 4 of total tax compared to an average of 15 9 in the GST s first decade of operation The decline has been driven by growing This is estimated to be approximately 9 0 resulting in the ATO receiving 91 of the GST revenue that was expected to be collected the bulk of which was collected voluntarily In part
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The table below sets out the distribution of the estimated GST pool in 2024 25 based on the Commission s recommended GST relativities The table compares the 2024 Update with National revenue is forecast to fall from 35 7 of GDP 985 5 billion in 2024 25 to 35 0 of GDP 1 114 1 billion in 2027 28 Compared to our previous NFO forecast
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https://www.abs.gov.au › ... › taxation-revenue-australia › latest-release
All Australia total taxation revenue continued to grow reaching 801 7b in 2023 24 up 6 1 while taxation revenue as a percentage of GDP was 30 0 Positive annual growth
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6 2 billion more GST in 2024 25 than it would have under the previous GST distribution arrangements The increase in Western Australia s GST relativity from the GST floor lowers
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Adani Stock Decline - This is estimated to be approximately 9 0 resulting in the ATO receiving 91 of the GST revenue that was expected to be collected the bulk of which was collected voluntarily In part
