Australia Here's how much each state will get under proposed GST changes

06:31  05 july  2018
06:31  05 july  2018 Source:   9news.com.au

'No value' given to Atlas Iron port project as stoush rolls on

  'No value' given to Atlas Iron port project as stoush rolls on Atlas Iron has confirmed that its interest in a much discussed port project at Port Hedland was given "no value" in an independent assessment in 2016.In a statement to the ASX on Thursday, Atlas reiterated that the Western Australian government’s policy position was that the two proposed new port berths to be built under the North West Infrastructure project were to be “set aside for junior miners”.

States demand tax freedom as Coalition braces for GST carve-up fight. Read more . Under the proposed overhaul, New South Wales would lose either .2bn or 0m in GST in 2017, depending on the method, and Queensland would lose 9m or .6bn.

Malcolm Turnbull has promised no state will be worse off under an overhaul of the GST distribution. In a long-anticipated review, the Productivity Commission proposed a radical overhaul of the “You will see that no state will be worse off as result of [our] reforms, in fact each state will be better off.”

Scott Morrison wearing a suit and tie: Treasurer Scott Morrison has promised no state or territory will be with less money from GST under proposed changes to revenue distribution. Picture: AAP.© Provided by Nine Digital Pty Ltd Treasurer Scott Morrison has promised no state or territory will be with less money from GST under proposed changes to revenue distribution. Picture: AAP. Treasurer Scott Morrison has promised no Australian state or territory will be worse off under a major overhaul of how GST funds are distributed.

To ensure no-one loses, the Federal Government will hand over $9 billion in "top up" funding during the transition to a new formula.

The new model follows a year-long review by the Productivity Commission, but the Treasurer has rejected the major recommendation that was made.

Gus' radical solution for NRL season

  Gus' radical solution for NRL season NRL legend Phil Gould has proposed a left-field solution in order to allow NRL teams to navigate the season and representative football more effectively.Speaking on the NRL Footy Show, Gould suggested that a mid-year recess could re-energise the competition in the second half of the season.

More . Malcolm Turnbull has rejected a recommendation to use an 'average' figure to carve up the GST . Malcolm Turnbull has promised every state will be better off under the government' s proposed changes to the way GST revenue is carved up.

Goods And Services Taxes ( GST ): Existing tax liabilities of homebuyers remain unaffected under GST . "So far, the mood of most of the states is not in favour of including it (in GST ) at the moment. Here is the complete list of GST rates. Good news for landlords, too.

Mr Morrison said the recommendation would have benefited NSW and Western Australia, but left small states behind.

Releasing the Productivity Commission report and the government's interim response, which he described as "the fair go principle", Mr Morrison said "the system is broken, it does need to be fixed".

"The issue has been kicked down the road in the past," he told reporters today.

"That has to end. Australia does it better than anywhere else and we're going to do it better. To ensure the essential services that all Australians rely on.

Brisbane buses drive a revenue boost of almost $30 million

  Brisbane buses drive a revenue boost of almost $30 million Most of the money will be made from advertising and special event services while casual drivers numbers will be boosted to meet demand for event services.The 2018-19 budget revealed a proposed “other revenue” figure of $28,746,000 for the financial year, without any detail on how this money was to be accrued.

GST registration should be obtained by a taxable person under GST in each of the State or Union Territory, from where the taxable supply of goods or services is made Also, in case of more than 1 GST registration within a state , the entity code would also change . Get your GST returns filed now!

Malcolm Turnbull has promised every state will be better off under proposed changes to the way GST revenue is carved up between governments. Western Australia would get an extra billion, while Victoria would be down billion. There would also be negative impacts for SA (.7 billion)

"You've got to make the pie bigger. If the pie's bigger everyone gets more. All the states and territories benefit."

a stack of flyers on a table: The proposed new plan will see no state or territory receive less than 70 percent of their own revenue made from GST from 2022-23. Picture: AAP.© Provided by Nine Digital Pty Ltd The proposed new plan will see no state or territory receive less than 70 percent of their own revenue made from GST from 2022-23. Picture: AAP.

It's the biggest change to the GST since it was introduced in 2000 and comes after years of bitter feuding over the fairness of funding.

The new design will set a "floor" of 70 cents per person, per dollar of GST to make sure no state receives less than 70 percent of their own revenue from 2022-23, and 75 cents from 2024-25.

To help in the transition, Canberra will chip in $7.2 billion from 2021-22 to 2028-29.

By then, the Commonwealth will be contributing more than $1 billion a year in untied funds.

a screenshot of a cell phone: Mr Morrison outlined how each state would receive boosts of millions and billions of dollars under the propose changes. Picture: Supplied.© Provided by Nine Digital Pty Ltd Mr Morrison outlined how each state would receive boosts of millions and billions of dollars under the propose changes. Picture: Supplied.

"When (the states and territories are) better off, that is a guarantee for essential services," Mr Morrison said today.

Premier’s overdevelopment plans anger communities

  Premier’s overdevelopment plans anger communities Controversial areas of mass development are being wound back by the NSW Government, after sustained community backlash. Twenty-two new “Priority Precincts” were announced by Premier Gladys Berejiklian as part of the government’s housing affordability package.The Sydenham-Bankstown corridor was to be rezoned in conjunction with the new metro train line, but sources have told 9NEWS it’s now up in the air.One of the options to be considered by Planning Minister Anthony Roberts is to hand planning control back to Inner West and Canterbury Bankstown councils.

What is imperative is to comprehend what is proposed under the GST . GST is to be a destination based consumption tax . This is as far as autonomy is concerned. Time and tide will show how much autonomy would a loss making state enjoy after GST .

Here ’ s how GST differs from the current regimes, how it will work, and what will happen if Parliament clears the Bill. Under it, there will be tax only on value addition at each stage, with the producer/seller at every stage able to set off his taxes against the central/ state GST paid on his

"We do believe in a fair go and a fair go has to be for everyone. The system wasn't providing a fair go for everyone."

In response, Opposition leader Bill Shorten said "the devil's in the detail".

"Liberals and the GST... It's always something you've got to be careful about," he said.

Bill Shorten wearing a suit and tie: In response, Opposition leader Bill Shorten questioned the plan, saying he wants to make sure the proposed changes isn't 'robbing Peter to pay Paul'. Picture: AAP.© Provided by Nine Digital Pty Ltd In response, Opposition leader Bill Shorten questioned the plan, saying he wants to make sure the proposed changes isn't 'robbing Peter to pay Paul'. Picture: AAP.

"If they're not trying to change the distribution, they're trying to increase the GST.

"I want to make sure this isn't a government that's robbing Peter to pay Paul."

On the contrary, Mr Morrison said no tax would rise to fund the new arrangement, but that the cost would be absorbed by the budget.

From 2026-27, the formula will be changed so only NSW and Victoria - the fiscally strongest states - will be used as the benchmark for funding.

The formula will have to be approved by the states and territories at a meeting in September.

Mr Morison said the figures were "indicative" and the final details would be thrashed out at the meeting with Treasurers.

Man, 23, diagnosed with rare form of leukaemia just 12 hours after proposing to his fiancée suddenly dies in his sleep five days later

  Man, 23, diagnosed with rare form of leukaemia just 12 hours after proposing to his fiancée suddenly dies in his sleep five days later Michael Owens, 23 (pictured right), was diagnosed with cancer 12 hours after he proposed to his fiancé Rosie Rechichi (pictured left). Just five days later, he died.A 21-year-old woman has been left devastated after her fiance died from cancer five days after he proposed to her.

Small cars will be slightly expensive under the proposed goods and services tax ( GST ) regime, with a peak tax rate of 28 per cent. Use Quora. Why prices are increasing? Because the Business people are not sure about how much benefit they will get because of GST .

They add tenants would be able to leave earlier under the plans while landlords would get more financial security. George Robertson, a landlord from St Albans, is concerned about how the proposals will affect him. Here ' s what you need to know this morning.

But, he said, the government wasn't considering broadening the base, or lifting the rate of the GST.

The Federal Government believes the changes will satisfy the states, particularly WA, which has missed out on funding since the end of the mining boom.

Shadow Treasurer Chris Bowen followed Shorten in saying the states were "entitled to by cynical", but that Labor will consider the announcement.

He questioned if Mr Morrison would increase the deficit or cut services to fund the tops ups and said the government had "locked in unsustainable government spending".

a man in a suit and tie: Treasurer Scott Morrison has promised big states will stop subsidising smaller states in proposed changes to GST revenue© Provided by Nine Digital Pty Ltd Treasurer Scott Morrison has promised big states will stop subsidising smaller states in proposed changes to GST revenue

NRL propose innovative Nines RLWC tournament, revival of Australian tour of Great Britain in jam-packed international calendar .
NRL propose innovative Nines RLWC tournament, revival of Australian tour of Great Britain in jam-packed international calendar that has given serious thought to global expansion, headlined by an innovative RLWC Nines tournament aimed at mirroring the world famous Rugby Sevens event.The entertaining Nines concept took flight in Auckland through the 16 NRL clubs, attracting respectable attention over its four-year lifespan before taking a backseat to the 2017 World Cup.

—   Share news in the SOC. Networks

Topical videos:

This is interesting!