Current Forecasts Overview 2014-15

Taxation revenue is revenue received from the State’s taxpayers and includes\npayroll tax, land tax, duties levied principally on conveyances and land\ntransfers, gambling taxes, insurance duty, fire services property levy, motor\nvehicle taxes and other taxes including congestion levy, metropolitan\nimprovement levy and so on. \nThe State’s taxation revenue is forecast by a process that involves\napplication of DTF’s economic forecasts, where there is a relationship between\ntaxation revenue and economic variables; and use of forward indicators,\nunpublished revenue data and qualitative information from liaison with\nrelevant stakeholders. \nThis enables an assessment of economic and other factors influencing the tax\nbases from which taxes are sourced e.g. for payroll tax, an assessment of the\noutlook for employment. \nWhere necessary, adjustment factors are used to account for other trends or\nevents not captured by the model, such as impact of economic shocks or policy\nstimulus.\n\n