In 2022–23, we assessed $26.9 billion in revenue, which helps to fund vital infrastructure and government services, such as education, law and order, and healthcare, while also contributing to specific support provided to the community and industry.
Several revenue lines were above forecast and the overall assessed revenue was more than $1.9 billion over the forecast.
Performance against forecast for 2022–23
2022–23 | Forecast $’000 | Assessed $’000 | Variance |
---|---|---|---|
Payroll tax | 7,150,000 | 8,331,721 | +16.5% |
Land transfer duty | 8,217,000 | 8,738,077 | +6.3% |
Land tax | 5,289,000 | 5,372,466 | +1.6% |
General insurance duty | 1,645,000 | 1,642,393 | -0.2% |
Fire services property levy | 800,000 | 791,858 | -1.0% |
Transport Accident Commission duty | 232,000 | 233,075 | +0.5% |
Congestion levy | 117,000 | 107,756 | -7.9% |
Growth areas infrastructure contribution | 300,000 | 259,581 | -13.5% |
Liquor licence fees | 27,000 | 20,900 | -22.6% |
Metropolitan planning levy | 22,000 | 21,913 | -0.4% |
Other miscellaneous duties | 0 | 12,060* | N/A |
Commercial passenger vehicle service levy | 60,000 | 61,119 | +1.9% |
Wagering and betting tax | 256,000 | 253,213 | -1.1% |
Mental health and wellbeing surcharge | 874,000 | 1,087,625 | +24.4% |
Keno tax | 12,000 | 11,966 | -0.3% |
Total revenue | 25,001,000 | 26,945,721 | +7.8% |
* Includes cattle compensation fund ($5,834,000), swine compensation fund ($192,000) and sheep and goat compensation fund ($3,169,000)
![Hospitals](/sites/default/files/2023-11/05_HOW%20DOES%20%24%20HELP%20VICTORIANS_360pxW%20x%20300pxH-01.png)
![Police](/sites/default/files/2023-11/05_HOW%20DOES%20%24%20HELP%20VICTORIANS_360pxW%20x%20300pxH-02.png)
![Schools](/sites/default/files/2023-11/05_HOW%20DOES%20%24%20HELP%20VICTORIANS_360pxW%20x%20300pxH-03.png)
![Public transport](/sites/default/files/2023-11/05_HOW%20DOES%20%24%20HELP%20VICTORIANS_360pxW%20x%20300pxH-04.png)
![$26.9B](/sites/default/files/2023-11/05_HOW%20DOES%20%24%20HELP%20VICTORIANS_360pxW%20x%20300pxH-05.png)
![Infrastructure](/sites/default/files/2023-11/05_HOW%20DOES%20%24%20HELP%20VICTORIANS_360pxW%20x%20300pxH-06.png)
![Roads](/sites/default/files/2023-11/05_HOW%20DOES%20%24%20HELP%20VICTORIANS_360pxW%20x%20300pxH-07.png)
![Parks](/sites/default/files/2023-11/05_HOW%20DOES%20%24%20HELP%20VICTORIANS_360pxW%20x%20300pxH-08.png)
![Targeted support](/sites/default/files/2023-11/05_HOW%20DOES%20%24%20HELP%20VICTORIANS_360pxW%20x%20300pxH-09.png)
![$222.07M total revenue assessed absentee owners 2022–23](/sites/default/files/2023-11/06_ABSENTEE%20OWNERS_555pxW%20x%20320pxH-01.png)
![$165.78M total revenue assessed absentee owners 2021–22](/sites/default/files/2023-11/06_ABSENTEE%20OWNERS_555pxW%20x%20320pxH-02.png)
![3,916 total number of absentee owners 2022–23](/sites/default/files/2023-11/06_ABSENTEE%20OWNERS_555pxW%20x%20320pxH-03.png)
![3,013 total number of absentee owners 2021–22](/sites/default/files/2023-11/06_ABSENTEE%20OWNERS_555pxW%20x%20320pxH-04.png)
![$228.25M total revenue assessed foreign purchaser additional duty 2022–23](/sites/default/files/2023-11/07_FOREIGN%20PURCHASERS_555pxW%20x%20320pxH-01.png)
![$160.19M total revenue assessed foreign purchaser additional duty 2021–22](/sites/default/files/2023-11/07_FOREIGN%20PURCHASERS_555pxW%20x%20320pxH-02.png)
![3,137 property transactions by foreign purchasers 2022–23](/sites/default/files/2023-11/07_FOREIGN%20PURCHASERS_555pxW%20x%20320pxH-03.png)
![2,177 property transactions by foreign purchasers 2021–22](/sites/default/files/2023-11/07_FOREIGN%20PURCHASERS_555pxW%20x%20320pxH-04.png)
![$16.25M total revenue assessed vacant residential land tax 2022–23](/sites/default/files/2023-11/08_VACANT%20RESIDENTIAL%20LTX_555pxW%20x%20320pxH-01.png)
![$10.66M total revenue assessed vacant residential land tax 2021–22](/sites/default/files/2023-11/08_VACANT%20RESIDENTIAL%20LTX_555pxW%20x%20320pxH-02.png)
![977 customers assessed vacant residential land tax 2022–23](/sites/default/files/2023-11/08_VACANT%20RESIDENTIAL%20LTX_555pxW%20x%20320pxH-03.png)
![943 customers assessed vacant residential land tax 2021–22](/sites/default/files/2023-11/08_VACANT%20RESIDENTIAL%20LTX_555pxW%20x%20320pxH-04.png)