Original article by Matthew Cranston
The Australian Financial Review – Page: 5 : 18-Dec-18
The federal government expects total revenue for 2018-19 to be $8.3bn higher than forecast in the May 2018 Budget, and $12.4bn higher over the forward estimates period. The revenue windfall has been driven by rising corporate profits, particularly in the mining sector as a result of higher commodity prices. Corporate tax revenue is expected to be about $495bn in 2018-19, compared with $460bn in 2017-18. However, economists say a sustained increase in company tax receipts cannot be taken for granted.
AUSTRALIA. DEPT OF THE TREASURY, PRICEWATERHOUSECOOPERS AUSTRALIA (INTERNATIONAL) PTY LTD, AMP CAPITAL INVESTORS LIMITED