R1.2 trillion income received in 2014/15

Pretoria - South Africa’s consolidated general government had a total income of R1.2 trillion from operating activities in the fiscal year ended 31 March 2015, Statistics South Africa (Stats SA) said on Thursday.

“This was R107 billion higher than the income received in the 2013/14 financial year (R1.1 trillion),” said Statistician General Pali Lehohla.

Releasing the Financial Statistics of Consolidated General Government report for the 2014/15 fiscal year at a briefing in Pretoria, Lehohla said the increase in income was largely due to increases in taxes paid by individuals collected as well as other receipts.

The report noted that taxes increased by R94 billion from R967 billion in 2013/2014 to R1 061 billion in 2014/2015.

The largest contributor to total cash receipts from operating activities for the 2014/2015 fiscal year was taxes (R1.1 trillion) followed by other receipts (R138.5 billion).

The report, which provides a consolidated picture of general government finances, showed that total cash payments for operating activities by the consolidated general government increased by R98.4 billion from R1.2 trillion in 2013/14 to R1.3 trillion in 2014/2015.

The largest contributor to cash payments was the compensation of employees that came in R 514.6 billion. This has increased by R40.6 billion from R473.9 billion in 2013/2014.

“The increase in expenditure on compensation of employees was mainly due to an increase in compensation of employees by the provincial governments (R18.1 billion) followed by the national government (R8.4 billion) and municipalities (R7.7 billion) [among others],” said Stats SA.

Expenditure

The report also showed that general government expenditure on education was R265 792 million with provincial government spending the highest amount at R190 858 million followed by higher education institutions with R56 971 million.

The expenditure by general government on health showed that R157 438 million in  the 2014/2015 fiscal year with provincial governments spending the largest amount R135 714 million followed by national government at R7 602 million, among others. – SAnews.gov.za