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Tax Expenditures Statement 2004

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The Tax Expenditures Statement provides details of concessions, benefits or incentives delivered to taxpayers through the tax system. These are referred to as ‘tax expenditures’. The Tax Expenditures Statement provides details of each tax expenditure provided by the Australian Government and where possible, reports the estimated value of the benefit to taxpayers.

Tax expenditures, like direct expenditures, affect the government’s budget. However, unlike direct expenditures, tax expenditures once legislated become part of the tax law with a recurring fiscal impact and do not receive regular scrutiny through the budget process. The Tax Expenditures Statement publishes information to assist transparency and encourage public scrutiny, of government programs delivered through the tax system.

This statement lists around 260 tax expenditures and estimates their value over the eight year period 2000-2001 to 2007-08. The tax expenditures in this statement reflect all announced policies and legislation applying up to the date of publication of the 2004-05 Mid-Year Economic and Fiscal Outlook.