The federal budget is tipped for a slim $600 million surplus in calendar 2022 after the latest government monthly financial statements showed the commodity price boom delivering record company taxes.
The 12-month underlying cash balance was in the red by just $1.9 billion in November after an $8.9 billion surplus was recorded over the month. The result was driven by $6.6 billion higher than expected government revenue.
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Ronald Mizen is the Financial Review’s political correspondent, reporting from the press gallery at Parliament House, Canberra. Connect with Ronald on Twitter. Email Ronald at ronald.mizen@afr.com
