The state’s coveted AAA credit rating is “almost certain” to be lost after a big GST hit to the state budget.
In recent years,I made the mistake of acquiring a taste for expensive booze. I would find beers with exceptional can designs and phrases such as “NEIPA” and “hazy pale” which made me feel special. Now I can’t afford the cheap stuff.
State treasurers are pressing for key changes to the way the GST is allocated so they know how much money they receive.
The Albanese government knows what it should do to manage the economy better,but lacks the courage to do more than a little.
A change in the definition of Coffs Harbour will cost NSW millions and other states win or lose on similar technicalities. These are the mysteries of the GST allocation system.
The Victorian Treasurer’s characterisation of Chris Minns as a tool might be over the top,but Tim Pallas has a point.
As the NSW government takes on the Commonwealth over GST,Premier Chris Minns says per-capita distribution of the tax would see an extra $3.6 billion dollars flow into the state.
Premier Chris Minns and Treasurer Daniel Mookhey say 14 cents out of every dollar paid by a NSW person in GST is now being donated to other states,including Victoria.
Victoria’s share of the GST carve-up has been boosted by $3.7 billion after the federal grants commission realised the state was packed and wasn’t getting mining revenue.
Every Australian’s life is affected by how the GST is allocated. But the latest carve-up of cash shows the entire system is broken and needs fixing now.
The head of the Australian Tax Office has admitted that the agency’s systems for “identifying fraud at that scale was not fit for purpose”.