Tax revenue revised upwards

Published: 12:12PM Thursday September 07, 2006 Source: Reuters

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The Treasury says it has revised up its tax revenue by $1.8 billion for the year ended June 30 due to changes in accounting methods.

It says the government has collected $56.2 billion in tax receipts for the 12 months ended June 30, up from the previously advised $54 billion and 0.4% above forecast.

The revised data shows direct tax of $37.4 billion, 0.2% higher than forecast, while total indirect tax of $18.8 billion was 0.8% above forecast.

The Treasury says the adjustment is one-off and reflects the period of transition between methods and should not be mistaken for an increase in the government's underlying tax revenue.

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