Government Finance Statistics Statements
Table 1: Australian Government general government sector operating statement
- The fiscal balance and net operating balance estimates in this table differ from those presented elsewhere in the Budget reflecting the treatment of the GST as an Australian Government tax.
- The term fiscal balance is not used by the ABS.
Table 2: Australian Government general government sector balance sheet
- For 2005-06 and the forward years, the netting of assets — investments, loans and placements and liabilities — government securities has been removed so that both lines are now reported on a gross basis.
- Equity includes the valuation of the Telstra shareholding, which is valued at the average of the daily share price over a 90-day period, except in the sale years where the valuation is based on the expected sale price.
- The net worth estimates in this table differ from those presented elsewhere in the Budget reflecting the treatment of GST as an Australian Government tax.
- Net worth is calculated as total assets minus total liabilities.
- Net financial worth equals total financial assets minus total liabilities. That is, it excludes non-financial assets.
- Net debt equals the sum of deposits held, advances received, government securities, loans and other borrowing, minus the sum of cash and deposits, advances paid, and investments, loans and placements.