ABS Update: Total taxation revenue up 8.6% in 2017-18

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The total taxation revenue collected in Australia increased by $41,797 million (8.6%) from the 2016-17 to 2017-18 financial years.

Previously at $486,790 million, taxation revenue collected is now at $528,587 million. This was largely driven by a $31,332 million (11.1%) increase in taxes on income, profits and capital gains, and a $6,244 million (4.6%) increase in taxes on provision of goods and services

The Australian federal system has a feature where the Commonwealth Government levies and collects all income tax from individuals and enterprises. It also collects a portion of other taxes, including taxes on the provision of goods and services. State government revenue consists of taxes on property, employers’ payroll, and the provision and use of goods and services. The sole source of taxation revenue for local governments is taxes on property.

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