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Trends in Queensland’s Tax, Royalties and GOC Dividends Fact Sheet

With the State Budget just around the corner I wanted to pen a quick analysis of trends in state taxation receipts and other own source revenue including royalties and GOC dividends.

Based on the analysis of eighteen Queensland State Budgets between 2000-01 and 2017-18 key observations include:

  • Queensland's annual own source revenue increased by $12,642 million or 192 per cent;
  • The top three revenue sources in 2017-18 are royalties ($3,861 million), payroll tax ($3,818 million) and transfer duties ($3,190 million);
  • The three revenue sources that have grown the most in dollar terms between 2000-01 and 2017-18 are royalties ($3,230 million), payroll tax tax ($2,648 million) and transfer duties ($2,490 million);
  • The three revenue sources that have grown the most in percentage terms between 2000-01 and 2017-18 are royalties (512%), land tax (418%) and transfer duties (356%);

I have provided below some other relevant metrics to contrast the above percentage increases over the same period of time:

  • State Budget expenditure has grown by 182.3 per cent;
  • GSP in nominal terms over this period has grown by 195.6 per cent;
  • Inflation has increased by 56.4 per cent; and
  • Queensland population has increased by 40.1 per cent.

Two areas that I would caution interpretation on is GOC dividends and tax equivalent payments as the Bligh Government in 2009 privatised Forestry Qld, Port of Brisbane, Queensland Motorways, Abbott Point Coal Terminal and Queensland Rail’s coal transport business.  This has meant that dividends and tax equivalent payments post 2009-10 are now earned off a smaller base than they were in 2001-02 for example.  It also excludes one-off and special withdrawals of capital that for example occurred in 2015 under the former Treasurer Curtis Pitt.

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