The State’s taxation revenue is forecast by a process that involves:
- application of the Department of Treasury and Finance’s economic forecasts, where there is a relationship between taxation revenue and economic variables; and
- use of forward indicators, unpublished revenue data and qualitative information from liaison with relevant stakeholders.
This enables an assessment of economic and other factors influencing the tax
bases from which taxes are sourced e.g. for payroll tax, an assessment of the
outlook for employment.
Where necessary, adjustment factors are used to account for other trends or
events not captured by the model, such as impact of economic shocks or policy
stimulus.
The download contains the eight taxation data series:
- total taxation revenue;
- payroll tax;
- land tax;
- land transfer duty;
- gambling taxes;
- insurance taxes;
- motor vehicle taxes; and
- other taxes.