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Western Australia receives GST revenue windfall.



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The Hon Julie Bishop MP Minister for Ageing

MEDIA RELEASE

Authorised by Julie Bishop • Parliament House • Canberra ACT 2600 • Tel: (02) 6277 7280 • Fax: (02) 6273 4138 www.health.gov.au/minist.htm --- www.seniors.gov.au

23 September 2004 JB192/04

WESTERN AUSTRALIA RECEIVES GST REVENUE WINDFALL

The States and Territories are benefiting from a cumulative GST windfall of $11,800 million to 2007-08, which is more than triple the estimate at the inaugural meeting of the Ministerial Council for Commonwealth-State Financial Relations in March 2000.

The continued strength of the economy is delivering to the States and Territories massive revenue windfalls from the GST.

With each successive update of the GST projections, the States and Territories are receiving an ever increasing amount of revenue. These amounts have not been factored into their budgets and represent a straight-out financial bonus.

Western Australia will receive $3, 613.1 million in GST revenue in 2004-05, which provides it with a windfall of more than $286 million compared with the previous system of Financial Assistance Grants and the State taxes that were abolished by the New Tax System.

Western Australia will benefit from a cumulative GST windfall of $1,291 million over the period to 2007-08.

The States and Territories have been unambiguous beneficiaries of the GST. This revenue is an ever increasing source of funds to finance their schools, hospitals and police services.