GST war closer to resolution but questions remain over how Government will fund top
The perpetual war over GST revenue might finally be drawing to a close, with several state governments cautiously backing the Federal Government’s plan to overhaul the system.
moncler outlet online Key points:This is the biggest overhaul of GST since it was introduced in 2000State governments largely on board but want to see more detailLabor demanding Coalition explain moncler outlet how it will fund changes moncler outlet online
After that it will introduce a new formula to calculate the way revenue is shared, pumping an additional $7 billion into moncler factory outlet the system to make sure no jurisdiction is worse off.
cheap moncler jackets Eventually every state will get at least 75 cent back for every GST dollar raised. cheap moncler jackets
cheap moncler outlet Treasurer Scott Morrison said it was “making the pie bigger” in order to make sure state governments moncler sale could deliver essential services. cheap moncler outlet
Growing the pie”If we left the pie at the same size, then obviously if there was a slightly smaller slice then people would be worse off, but when you make the pie bigger then obviously that slice is bigger,” he said.
The Treasurer also promised he wouldn’t raise cheap moncler taxes to pay for the overhaul, and said the money would come from moncler outlet store the budget bottom line.
moncler sale outlet The decision has big ramifications for state governments, which will get almost $70 billion in GST revenue from the Commonwealth this year. moncler sale outlet
moncler mens jackets Successive West Australian governments have been cheap moncler jackets sale pushing hard for the system to be changed, complaining their state had been short cheap moncler jackets changed. moncler mens jackets
This morning, Western Australia’s Treasurer, Ben Wyatt, said the new formula would protect his state from the boom and bust cycles of the mining industry.
monlcer down jackets “I think that’s the value in the long term reform is that in the event there is another super cycle in some commodity somewhere that you don’t get that volatility in the revenue source,” he said. monlcer down jackets
moncler outlet store “It’s not everything the state government wanted but what we’ve got here is something that can be achieved. This is something that can be landed and delivered.” moncler outlet store
Tasmania depends heavily on GST revenue and has warned it cannot absorb any cuts to Commonwealth revenue.
The state’s Treasurer, Peter Gutwein, responded cautiously to Mr Morrison’s announcement, but said Tasmania looked likely to benefit.
“It moncler jackets outlet looks quite positive but we need to work https://www.moncleroutletssale.com moncler outlet our way through this,” Mr Gutwein said.
moncler sale The Government’s main independent economic advisor, the Productivity Commission, moncler outlet online had have a peek at this website recommended the Coalition embrace a different model, carving up GST revenue on the basis of the states’ average wealth. moncler sale
buy moncler jackets But the Government rejected that idea largely because it would have disadvantaged many smaller states and provoked a fierce political bunfight. buy moncler jackets
cheap moncler coats New South Wales Premier Gladys Berejiklian said the Productivity Commission’s proposal would have seen more money flow to her state but seemed resigned to the Commonwealth’s decision. cheap moncler coats
“This is a status quo result,” she told journalists in Sydney.
South Australian moncler outlet jackets Premier Steven Marshall declared the Productivity Commission’s recommendation would have been a disaster for his state, and praised the Commonwealth’s decision.
“This is great news for South Australia,” Mr Marshall said.
cheap moncler sale “Quite frankly, as a state, we were looking down the barrel of a gun. The Prime Minister has done the right thing by the people of South Australia.” cheap moncler sale
The most sceptical response came from Queensland and Victoria.
moncler outlet Victoria’s Acting Premier, James Merlino, said bureaucrats would be combing through the details of the proposal to make sure his state was treated fairly. moncler outlet
moncler outlet sale “We know that the devil will be in there,” he said. moncler outlet sale
“We know that the Turnbull Government has a history of cutting vital services for Victorians and for people across the country. So we’re going to make sure that this deal does what Scott Morrison claims it does.”.