The Reserve Bank released the latest taxation receipts and payments of the Federal Government for the month ending 31st January 2011.
The annual headline deficit jumped from $58 Billion to $62 Billion, putting it nearly on par with the worst annual deficit recorded last September.
The Annual figures over a 3 year period (Jan 2008 to Jan 2011) are as follows:
Net Individual Tax: +6.7%
Company Tax: -15.0 %
Total Income Tax: -4.0%
Interest & Dividend Receipts: -29%
TOTAL REVENUE: +6%
Social Security & Welfare: +19.5%
Housing and community: +164%
Recreation & Culture: +29.7%
Economic Services: +45%
General Public Services: +22.4%
Public Debt Interest: +92.6%
TOTAL EXPENSES: +40.98%
Headline Surplus/Deficit: A lot%
From: $20.4 Billion surplus to: $61.5 billion deficit.