Appendix E:  Historical fiscal data
This appendix provides historical data for Commonwealth fiscal aggregates.
For cash data, outcomes up to, and including, 1998‑99 are from a cash budget framework, while those for 1999‑2000 onwards are cash proxies derived from an accrual framework. Due to methodological and data‑source changes associated with the move to an accrual accounting framework, time series data that encompasses measures derived under both cash and accrual accounting should be used with caution. 
There are other structural breaks within the data set, prior to the shift to accrual reporting. Classification differences and revisions, as well as changes to the structure of the budget, can impact on comparisons over such an extended period. 
Following changes to the Australian National Accounts standards, the general government cash surplus measures in this appendix, from 1998‑99 onwards, incorporate payments by the Commonwealth general government sector in respect of accumulated PNFC superannuation liabilities. Figures for the years prior to 1998‑99 do not incorporate these payments.
Other factors that affect the comparability of data between years include:
•	classification differences in the data relating to the period prior to 1976‑77 (which mean that earlier data may not be entirely consistent with data for 1976‑77 onwards);
•	adjustments in the coverage of agencies included in the accounts of the different sectors. These include the reclassification of Central Banking Authorities from the general government to the PFC sector in 1998‑99, and subsequent backcasting to account for this change;
•	the revaluation of Telstra, in 1999‑2000, from book value to market value (which only impacts on net worth);
•	transfers of taxing powers between the Commonwealth and the States;
•	other changes in financial arrangements between the Commonwealth and the State/local government sector; and
•	changes in arrangements for transfer payments, where tax concessions or rebates are replaced by payments through the social security system. This has the effect of increasing both cash revenues and outlays, as compared with earlier periods, but not changing cash balances. Changes in the opposite direction (tax expenditures replacing outlays) reduce both cash outlays and revenue.
While approximate adjustments can be made to identify trends in budget aggregates on a generally consistent basis, the further back the analysis is taken, the less manageable becomes the task.  
Table E1:  Commonwealth general government sector cash revenue,
outlays and surplus(a)

(a)	There is a break in the series between 1998-99 and 1999-00. Data for the years up to, and including, 1998-99 are consistent with the cash ABS GFS reporting requirements. From 1999-00 onwards, data are derived from an accrual ABS GFS reporting framework. Revenues are proxied by receipts from operating activities and sales of non-financial assets. Outlays are proxied by payments for operating activities, purchases of non-financial assets and acquisitions of assets under financial leases. Due to methodological and data-source changes associated with the transition to accruals, time series data that encompasses measures derived under both cash and accrual accounting should be used with caution.
(b)	Following changes to the Australian National Accounts standards the surplus measures in this table, from 1998-99 onwards, incorporate payments by the general government sector in respect of accumulated PNFC superannuation liabilities. These payments are not incorporated prior to 1998-99.
(e)	Estimates.
(p)	Projections.
na	Not applicable, due to structural break in series.
Table E2:  Commonwealth general government sector cash taxation revenue, non‑taxation revenue and total revenue(a)

(a)	There is a break in the series between 1998-99 and 1999-00. Data for the years up to, and including, 1998-99 are consistent with the cash ABS GFS reporting requirements. From 1999-00 onwards, data are derived from an accrual ABS GFS reporting framework. Revenues are proxied by receipts from operating activities and sales of non-financial assets. Due to methodological and data-source changes associated with the transition to accruals, time series data that encompasses measures derived under both cash and accrual accounting should be used with caution.
(e)	Estimates.
(p)	Projections.
na	Not applicable, due to structural break in series.

Table E3:  Commonwealth revenue (cash basis)

(a)	Includes receipts from both the Medicare levy and the Medicare levy surcharge. See memorandum item for revised outcomes and estimates.
(b)	Includes final payments from the Prescribed Payments System (which was replaced by the new PAYG system from 1 July 2000).

Table E4:  Commonwealth general government sector net debt(a) and net interest outlays

(a)	The net debt series used in this table incorporates Treasury estimates for 1974-75 to 1986‑87 and published ABS data for 1987-88 to 1997-98 (Public Sector Financial Assets and Liabilities, Cat. No. 5513.0). Comparable net debt data have been collected by the ABS since 1988. Treasury estimates were constructed by deducting annual net borrowing — defined as the ABS cash deficit — from the ABS measure of the stock of net debt at end June 1998.
(e)	Estimates.
(p)	Projections.

Table E5:  Commonwealth general government sector accrual revenue, expenses, net capital investment and fiscal balance

(a)	The fiscal balance is equal to revenue less expenses less net capital investment.
(e)	Estimates.
(p)	Projections.
na	Data not available.

Table E6:  Commonwealth general government sector accrual taxation revenue, non‑taxation revenue and total revenue

(e)	Estimates.
(p)	Projections.
na	Data not available.

Table E7:  Commonwealth revenue (accrual basis)

(a)	Includes revenue from both the Medicare levy and the Medicare levy surcharge. See memorandum item for revised outcomes and estimates.
(b)	Includes final payments from the Prescribed Payments System (which was replaced by the new PAYG system from 1 July 2000).

Table E8:  Commonwealth cash revenue, outlays and surplus by institutional sector(a)

(a)	There is a break in the series between 1998-99 and 1999-2000. Data for the years up to, and including, 1998-99 are consistent with the cash ABS GFS reporting requirements. From 1999-2000 onwards, data are derived from an accrual ABS GFS reporting framework. Revenues are proxied from operating activities and sales of non-financial assets. Outlays are proxied by payments for operating activities, purchases of non-financial assets and the acquisition of assets under finance leases. Due to methodological and data-source changes associated with the transition to accruals, time series data that encompasses measures derived under both cash and accrual accounting should be used with caution.
(b)	Following changes to the Australian National Accounts standards, the general government surplus measures in this table, from 1998-99 onwards, incorporate payments by the Commonwealth general government sector in respect of accumulated PNFC superannuation liabilities. Prior to 1998-99 these payments are not incorporated.
(e)	Estimates.
(p)	Projections.
na	Data not available.

Table E9:  Commonwealth accrual revenue, expenses and fiscal balance by institutional sector(a)

(a)	The fiscal balance is equal to revenue less expenses less net capital investment, which is not shown is this table.
(e)	Estimates.
(p)	Projections.
na	Data not available.

Table E10:  Commonwealth net worth by sector (as at end financial year)(a)

(a)	Net worth is calculated as assets minus liabilities minus shares and other contributed capital.
(e)	Estimates.
(p)	Projections.
na	Data not available.