Most states and territories will receive more GST revenue according to recommendations of Commonwealth Grants Commission
The NSW treasurer, Daniel Mookhey, said the results of the latest GST carve-up show ‘how out of touch the Commonwealth Grants Commission is’.The NSW treasurer, Daniel Mookhey, said the results of the latest GST carve-up show ‘how out of touch the Commonwealth Grants Commission is’.Decisions of the independent commission are applied by the federal government as a matter of course, despite protests from states losingVictoria’s GST revenue will soar by $3.
Due to the GST floor, introduced by the Turnbull government, states are guaranteed to receive 75% of the goods and services tax paid in their state, up from 70% last year. The report said the Northern Territory is “estimated to receive the largest increase in per capita terms ”.All states and territories received more GST than last year, except for Queensland, which will receive $469m less and NSW, which will receive $310m less.
GST needs were reduced by “above-average growth” in land tax capacity in NSW and Tasmania, and in property sales in Queensland, Western Australia and the ACT.Our Australian morning briefing breaks down the key stories of the day, telling you what’s happening and why it matters“We are pleased that the Commonwealth Grants Commission has recognised previous inequity in the GST allocation and that Victoria is receiving a much fairer share,” she told reporters in Geelong.