Original article by Simon Benson
The Australian – Page: 1 & 2 : 5-Jul-18
The Federal Government proposes to introduce a new model for the distribution of goods and services tax revenue which aims to ensure that no state territory will be disadvantaged. The reforms include the introduction of a GST floor, which will ensure that each state receives a minimum of $0.70 per person for each dollar of GST revenue from 2022. This will rise to $0.75 in 2024. The Government will also provide a funding boost totalling $A7bn to compensate states and territories for any loss of revenue during the six-year transition phase.
AUSTRALIA. DEPT OF THE TREASURY, AUSTRALIA. PRODUCTIVITY COMMISSION