Motor Vehicle Revenues
Motor Vehicle Taxes and receipts from Vehicle Quota Premiums (VQP, i.e. Certificate of
Entitlement (COE) premiums) are expected to be lower than Budget 2005 estimates by
$0.05 billion (2.8%) and $0.9 billion (62.7%) respectively. This was due to even higher de-
registrations in 2005 than was projected at the start of the FY leading to correspondingly
higher Preferential Additional Registration Fee (PARF) and COE rebates. The higher PARF
rebates lowered net collections from the Additional Registration Fee (ARF) and offset the
gains in other motor vehicle taxes such as road tax, while the higher COE rebates, together
with the low COE premium levels, led to the sharp decline in VQP collections.
Betting Taxes
At $1.5 billion, revenue from betting taxes remained fairly constant as compared to FY2004
levels (2.6% lower) and Budget 2005 estimates (2.0% higher).
Other Taxes
Revenue from other taxes (e.g. foreign worker levy, stamp duty, etc.) is expected to be $1.9
billion, almost identical to FY2004 levels (0.4% lower) and close to Budget 2005 estimates
(2.9% higher).