Economy is on the mend

Tax revenues are continuing to flow into Federal coffers better than expected in a sign the economy continues to mend.

Figures released by the Finance Department yesterday showed company tax is leading the improvement that is boosting the Budget bottom line.

Company tax for the seven months of the financial year to the end of the January stood $1.8 billion ahead of expectations.

And in good news for the States and Territories, GST is about $500 million better than anticipated.

WA's share of that extra $500 million, however, would be less than $40 million.

The stronger revenue figures point to a better economic environment that suggests that total Federal debt will be lower than expected when Treasurer Joe Hockey delivers his first Budget in May.

The West Australian

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