Payroll Tax 2014-15

Brief description

Taxation revenue is revenue received from the State’s taxpayers and includes
payroll tax, land tax, duties levied principally on conveyances and land
transfers, gambling taxes, insurance duty, fire services property levy, motor
vehicle taxes and other taxes including congestion levy, metropolitan
improvement levy and so on.
The State’s taxation revenue is forecast by a process that involves
application of DTF’s economic forecasts, where there is a relationship between
taxation revenue and economic variables; and use of forward indicators,
unpublished revenue data and qualitative information from liaison with
relevant stakeholders.
This enables an assessment of economic and other factors influencing the tax
bases from which taxes are sourced e.g. for payroll tax, an assessment of the
outlook for employment.
Where necessary, adjustment factors are used to account for other trends or
events not captured by the model, such as impact of economic shocks or policy
stimulus.