Dr. Constable asks the Treasurer about stamp duty revenue from 1997-2004, and the Treasurer provides the requested figures, highlighting the government's financial management and tax reforms.

AnsweredQoN 3258Legislative Assembly
Asked
19 October 2004
Portfolio
Treasurer

QuestionView source ↗

(b) 1997-1998; (c) 1998-1999; (d) 1999-2000; (e) 2000-2001; (f) 2001-2002; (g) 2002-2003; and (h) 2003-2004?
(c) 1998-1999; (d) 1999-2000; (e) 2000-2001; (f) 2001-2002; (g) 2002-2003; and (h) 2003-2004?
(d) 1999-2000; (e) 2000-2001; (f) 2001-2002; (g) 2002-2003; and (h) 2003-2004?
(e) 2000-2001; (f) 2001-2002; (g) 2002-2003; and (h) 2003-2004?
(f) 2001-2002; (g) 2002-2003; and (h) 2003-2004?
(g) 2002-2003; and (h) 2003-2004?
(h) 2003-2004?

AnswerView source ↗

Answered
26 November 2004
Response time
38 days
Using increased revenue and harnessing the proceeds of cutting waste and duplication, the Gallop Government has been able to provide massive increases in funding in key service areas. In 2004-05, annual spending on health is $808 million higher than when the Government came to office, education spending is $457 million higher, police spending is $159 million higher and disability services spending is $72 million higher. The Government has also funded the $1.5billion New MetroRail Project, the $1.7billion Reid Reform Plan for the State's public health system and the $350million desalination plant. It has also paid off $481 million in State debt. These decisions have been made within a responsible financial framework that aims to keep the Budget in balance and preserve the State's AAA credit rating. Recognising the inequities and administrative burden for businesses in meeting State tax obligations, the Gallop Government embarked on the biggest tax reform program since the Second World War. This has seen the abolition of six nuisance taxes and the simplification of payroll and land tax. Given strong economic conditions and the improved revenue outlook, the Government was able to provide tax relief in the 2004-05 State Budget. In October 2004, the Premier announced a further $1 billion in stamp duty, land tax and payroll tax relief over the next four years. In answer to the Member's specific question: (1) The following amounts of revenue were raised in each of the years specified from total stamp duties, including duties on property conveyances, insurance policies, motor vehicle licence transfers and mortgages. (a) $643 million (b) $845 million (c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
The Government has also funded the $1.5billion New MetroRail Project, the $1.7billion Reid Reform Plan for the State's public health system and the $350million desalination plant. It has also paid off $481 million in State debt. These decisions have been made within a responsible financial framework that aims to keep the Budget in balance and preserve the State's AAA credit rating. Recognising the inequities and administrative burden for businesses in meeting State tax obligations, the Gallop Government embarked on the biggest tax reform program since the Second World War. This has seen the abolition of six nuisance taxes and the simplification of payroll and land tax. Given strong economic conditions and the improved revenue outlook, the Government was able to provide tax relief in the 2004-05 State Budget. In October 2004, the Premier announced a further $1 billion in stamp duty, land tax and payroll tax relief over the next four years. In answer to the Member's specific question: (1) The following amounts of revenue were raised in each of the years specified from total stamp duties, including duties on property conveyances, insurance policies, motor vehicle licence transfers and mortgages. (a) $643 million (b) $845 million (c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
These decisions have been made within a responsible financial framework that aims to keep the Budget in balance and preserve the State's AAA credit rating. Recognising the inequities and administrative burden for businesses in meeting State tax obligations, the Gallop Government embarked on the biggest tax reform program since the Second World War. This has seen the abolition of six nuisance taxes and the simplification of payroll and land tax. Given strong economic conditions and the improved revenue outlook, the Government was able to provide tax relief in the 2004-05 State Budget. In October 2004, the Premier announced a further $1 billion in stamp duty, land tax and payroll tax relief over the next four years. In answer to the Member's specific question: (1) The following amounts of revenue were raised in each of the years specified from total stamp duties, including duties on property conveyances, insurance policies, motor vehicle licence transfers and mortgages. (a) $643 million (b) $845 million (c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
Recognising the inequities and administrative burden for businesses in meeting State tax obligations, the Gallop Government embarked on the biggest tax reform program since the Second World War. This has seen the abolition of six nuisance taxes and the simplification of payroll and land tax. Given strong economic conditions and the improved revenue outlook, the Government was able to provide tax relief in the 2004-05 State Budget. In October 2004, the Premier announced a further $1 billion in stamp duty, land tax and payroll tax relief over the next four years. In answer to the Member's specific question: (1) The following amounts of revenue were raised in each of the years specified from total stamp duties, including duties on property conveyances, insurance policies, motor vehicle licence transfers and mortgages. (a) $643 million (b) $845 million (c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
Given strong economic conditions and the improved revenue outlook, the Government was able to provide tax relief in the 2004-05 State Budget. In October 2004, the Premier announced a further $1 billion in stamp duty, land tax and payroll tax relief over the next four years. In answer to the Member's specific question: (1) The following amounts of revenue were raised in each of the years specified from total stamp duties, including duties on property conveyances, insurance policies, motor vehicle licence transfers and mortgages. (a) $643 million (b) $845 million (c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
In answer to the Member's specific question: (1) The following amounts of revenue were raised in each of the years specified from total stamp duties, including duties on property conveyances, insurance policies, motor vehicle licence transfers and mortgages. (a) $643 million (b) $845 million (c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(1) The following amounts of revenue were raised in each of the years specified from total stamp duties, including duties on property conveyances, insurance policies, motor vehicle licence transfers and mortgages. (a) $643 million (b) $845 million (c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(a) $643 million (b) $845 million (c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(b) $845 million (c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(c) $818 million (d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(d) $972 million (e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(e) $1,038 million (f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(f) $1,144 million (g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(g) $1,430 million (h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(h) $1,927 million The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
The revenue figures prior to 1998 are on a cash basis. All data figures from 1998-1999 onwards are on an accrual Government Finance Statistics (GFS) basis. (2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
(2) In the 2004-2005 budget, projected revenues from these sources are: 2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
2004-05 $1,474 million 2005-06 $1,539 million These figures were calculated on an accrual basis.
2005-06 $1,539 million These figures were calculated on an accrual basis.
These figures were calculated on an accrual basis.

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