Analysis of Debt

Analysis of debt 2017-18

Tax base Total debt 30 June 2018
($)		 < 30 days
($)		 30-90 days
($)		 > 90 days
($)		 Provision for doubtful debt ($) Total debt 30 June 2017
($)
Duties debt
Land Transfer/Mortgage 15,282,109 2,142,866 5,258,408 7,880,835 7,098,944 14,492,157
Insurance 5043 601 3,395 1,047 10,966 51
Hire of Goods 193 0 0 193 0 193
Registered Used Vehicle Duty 0 0 0 0 0 0
Motor Vehicle Duty 1,159,049 88,449 71,827 998,773 355,890 880,717
Total duties 16,446,394 2,231,916 5,333,630 8,880,848 7,465,800 15,373,118
Other taxes
Payroll Tax 57,312,009 9,443,770 9,832,356 38,035,883 64,617,772 44,718,906
Land Tax 116,721,561 48,428,279 6,408,150 61,885,132 0 243,769,540
Financial Institutions Duty 0 0 0 0 0 0
Congestion Levy 2,656,596 295,140 35,166 2,326,290 27,310 3,417,389
Cattle and Swine Duty 39,914 3,415 3,600 32,899 0 39,151
Total other taxes 176,730,080 58,170,604 16,279,272 102,280,204 64,645,082 291,944,986
All taxes 193,176,474 60,402,520 21,612,902 111,161,052 72,110,882 307,318,104

Summary of written off debt 2017-18

Tax base $
Hire of Goods 0
Congestion Levy 6,770
Motor Vehicle Duty 109,574
Land Transfer/Mortgage 161,035
Payroll Tax 15,957,115
Land Tax 350,892
Insurance 0
Sheep and Goat 0
Cattle and Swine 0
Sundry Debts 0
Total debt written off 16,585,386

Notes (all figures are taken as at 30 June 2018)

  1. These figures are reported in accordance with the debt reporting policy that forms the basis of the State Revenue Office’s debt management program. The policy’s critical elements are:
    • assessed tax is reported as debt once the due date for payment has passed, and
    • the reported debt comprises primary tax only.
  2. Debt under instalment payment arrangements was $26,685,115
  3. Disputed debt was $76,734,085 and is not shown in the total debt.
  4. Insolvency debt was $76.7 million. This debt is comprised of debtors under the control of an insolvency practitioner with State Revenue Office recoveries limited to any dividends paid. Insolvency debt is not included in the debt total.
  5. There was no deferred debt.
  6. Outstanding penalty, interest and additional tax charges totalled $39,268,971.
  7. Debts are only written off when all reasonable recovery steps have been exhausted.