GST overhaul has been given the green light โ€” here’s what it all means for WA Just how bad did WA’s GST share get? ๐Ÿ‡ฆ๐Ÿ‡บ #auspol More Here;

The Morrison Government’s GST reform package unanimously passes the Senate โ€” so when will WA benefit from it and how will the extra cash be spent?

After a decade-long campaign from the west for a fairer deal, the Morrison Government’s GST reform package has unanimously passed the Senate.

The overhaul will cost $10 billion over a decade, and there has been a guarantee that no state or territory would be worse off enshrined in law.

Western Australia will be $4.7 billion better off under the plan over a period of eight years.

So when will WA see the extra money?

So-called top-up payments will start to flow into state coffers from next year when a staged plan to implement the overhaul begins.

Here’s the breakdown of how much additional cash WA will get over the next few years:

  • 2019-2020: $814 million
  • 2020-2021: $585 million
  • 2021-2022: $305 million

After that, a key element of the overhaul kicks in โ€” a new GST floor.

Just how bad did WA’s GST share get?

WA’s share of GST fell to 30 cents in the dollar in 2015-16 as the Commonwealth Grants Commission continued to deem it “the state with the strongest fiscal capacity”, long after the mining boom ended.

Source: The GST overhaul has been given the green light โ€” here’s what it all means for WA – ABC News (Australian Broadcasting Corporation)