Tag #Gst Distribution

What are the immediate financial impacts of the Commonwealth Grants Commission's 2024 GST allocation on Queensland and Victoria, and what factors drove this outcome?

The Commonwealth Grants Commission's 2024 GST allocation resulted in a $1.2 billion budget shortfall for Queensland and a $3.7 billion surplus for Victoria. This disparity stems from population growth in Melbourne, high coal royalties in Queensland and NSW, and lingering pandemic health costs. A deal to protect Western Australia's GST share, initially projected at $2.3 billion over four years, is now expected to cost $60 billion over 11 years.