NSW PUSHES FOR GST GUARANTEE

NSW TREASURER SEEKS ASSURANCES OVER GST REFORM
October 1, 2018
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October 5, 2018

NSW Treasurer Dominic Perrottet has called on the Commonwealth to consider the long term consequences for NSW taxpayers if it rushed through legislation to change the GST system.

State, Territory and Commonwealth Treasurers convened in Melbourne at a meeting of the Council of Federal Financial Relations (CFFR).

“Today I was pleased to participate in a robust discussion about the Commonwealth’s proposed reforms to GST,” Mr Perrottet said.

“At our meeting, all states and territories put forward the strong view that any legislation must guarantee no state will be worse off.

“Unfortunately the Commonwealth indicated it would proceed with legislation without that guarantee.

“GST is a critical revenue source which states rely on to deliver services like quality education and healthcare, yet under the Commonwealth proposal there are a number of scenarios where NSW would lose substantial funding.

“That is not an acceptable outcome – all we want is a fair deal for the families and businesses of NSW, and we want to work constructively with the Commonwealth to get this right.

“In the weeks ahead I will be making every effort to ensure any Commonwealth legislation includes the guarantee the Prime Minister and the Treasurer have previously given – that our state will not be worse off.

“NSW taxpayers pay more than their fair share, and we will always be willing to support smaller states. We also understand the need to address Western Australia’s current situation.

“What we won’t do is support a system that penalises states like NSW that are fiscally responsible, and rewards states that fail to reform and manage their budgets well.”

At the CFFR meeting, treasurers also discussed education funding reform, and agreed to the removal of GST on female hygiene products.

“Every jurisdiction understands the importance of getting education funding reform right, and our discussion today gives me great confidence that a resolution is within reach,” Mr Perrottet said.

“It was also very pleasing to reach unanimous agreement on the removal of GST on feminine hygiene products. This is a long-overdue change, and a win for the women of Australia and the households of NSW.”

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