Budget surplus running at $18bn so far this year, Australian government data shows

May budget had previously predicted surplus of $9.3bn in 2023-24 but that has been boosted by earlier than anticipated payment of corporate taxes

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The federal budget has recorded a surplus of more than $18bn in the first 11 months of the fiscal year, buoyed by a larger collection of revenues than forecast in the May budget.

The underlying cash surplus of $18.2bn so far is almost as large as the $22.1bn surplus recorded for all of the 2022-23 year, according to the government's updated finances.