Budgetary/fiscal policy  Goals of budgetary policy   Budget outcomes   Cash v underlying outcome   Fiscal outcome   Composition of revenue   Composition of expenditure   Financing a deficit   Dealing with a surplus   Actual v estimated outcome  Auto v discretionary stabilisers   Expansionary v contractionary  Rationale for budget surplus   Fiscal drag/bracket creep   BP and economic goals   Fiscal strategy   Eco growth  Inflation Employment  Ext stability  Income dist  Living stds  BP strengths + weaknesses  Economicstutor..com.au

Copyright © All rights reserved. Site administered by CPAP and content provided by Romeo Salla    

Email: admin@economicstutor.com.au     romeosalla@economicstutor.com.au


 Course notes quick navigation

1 Introductory concepts 2  Market mechanism  3 Elasticities  4 Market structures 5  Market failures  6  Macro economic activity/eco growth  7 Inflation 8  Employment & unemployment  9  External Stability  10  Income distribution 11.Factors affecting economy  12  Fiscal/Budgetary policy  13  Monetary Policy   14 Aggregate Supply Policies  15 The Policy Mix

Next page


The Composition of Receipts (revenue)


the federal government collects approximately $474B (2018-19), with the vast majority of receipts coming in the form of taxation (93% or $440B). The three major sources of taxation revenue are individuals income tax ($218B), company tax ($89B) and sales taxes (primarily the GST) of approximately $68B. In addition, excise on fuel, tobacco and alcohol amount to a total of $38B. Non-taxation receipts/revenue includes dividends from the RBA, earnings from the Future Fund as well as the sale of goods and services.



Test yourself Previous page

Should we tax the rich more?