Bill
Treasury Laws Amendment (Making Sure Every State and Territory Gets Their Fair Share of GST) Bill 2018
passed, as at 2018-11-29. Treasury portfolio.
- Sponsor
- Not recorded
- Portfolio
- Treasury
Recorded stages
- introduced — 2018-10-18
- second reading — 2018-10-18
- second reading — 2018-10-23
- second reading — 2018-10-23
- third reading — 2018-10-23
- introduced — 2018-11-12
- second reading — 2018-11-12
- second reading — 2018-11-12
- second reading — 2018-11-13
- second reading — 2018-11-14
- second reading — 2018-11-14
- third reading — 2018-11-14
- passed — 2018-11-14
- royal assent — 2018-11-29
Divisions
No divisions recorded. Most questions are decided on the voices; this does not establish that a bill was unopposed.
Plain-language summary
Written by a model from the explanatory memorandum; not the record, as at 2018-10-18.
This bill changes how the GST is shared among states and territories so the system is fairer.
It moves from full equalisation to reasonable equalisation based on New South Wales and Victoria, introduces a minimum GST relativity floor set by the Treasurer, and adds extra Commonwealth money to the GST pool permanently.
Short-term payments are provided to states or territories with a GST relativity below 0.7 and to the Northern Territory if its relativity falls below its 2017-18 factor.
- The bill transitions horizontal fiscal equalisation from full to reasonable equalisation.
- It introduces a minimum GST relativity floor that the Treasurer may set for any state or territory.
- It permanently boosts the GST revenue pool with extra Commonwealth financial assistance.
States and territories that receive GST revenue shares.
Sources
em
billhome
frl act