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The Australian Bureau of Statistics (ABS) has released tax revenue data for the 2019-20 financial year, which reveals that Australia’s total tax take decreased by $8.0 billion (1.4%) to $552.0 billion:
After rising inexorably for years, Australia’s total tax receipts fell in 2019-20.
The decline in tax revenue was experienced across all levels of government; although the main drivers of the fall were:
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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