Tax collections ahead

The Government collected $17.426 billion in tax revenue for the year to date to October, 0.8 per cent above forecast, Treasury data show.

The data showed direct tax of $114.05 billion was 2.1 per cent higher than forecast, while total indirect tax of $60.21 billion was 1.7 per cent below forecast. Total tax revenue was 8.5 per cent ahead of the same period a year earlier.

Tax receipts for the period were up 0.6 per cent on forecast, and 8.1 per cent above a year ago, Treasury said.