Treasury Laws Amendment (Making Sure Every State and Territory Gets Their Fair Share of GST) Bill 2018

Type
Government
Portfolio
Treasury
Originating house
House of Representatives
Status
Before Senate
Parliament no
45

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Summary

Gives effect to elements of the Government’s interim response to the Productivity Commission’s report Horizontal Fiscal Equalisation by amending the: Commonwealth Grants Commission Act 1973 to require the Treasurer, when framing the annual terms of reference for a Commonwealth Grants Commission (CGC) inquiry into how the goods and services tax (GST) should be distributed among the states and territories, to require the CGC to transition the horizontal fiscal equalisation system from full equalisation (equalised to the strongest state or territory) to reasonable equalisation (equalised to the stronger of New South Wales and Victoria); and Federal Financial Relations Act 2009 to: introduce a minimum GST revenue sharing relativity that may be determined by the Treasurer for any individual state or territory for a financial year; boost the annual funding pool from which GST revenue grants are made to the states and territories with additional Commonwealth financial assistance each year; and provide a guarantee, by way of additional Commonwealth financial assistance, to each state or territory that would have received a greater overall entitlement under the current distribution system as compared to the updated distribution system during the transition period. Also provides for a review of the operation of the Act by the Productivity Commission by 31 December 2026.

Progress

House of Representatives
Introduced and read a first time 18 Oct 2018
Second reading moved 18 Oct 2018
Second reading debate 23 Oct 2018
Second reading agreed to 23 Oct 2018
Third reading agreed to 23 Oct 2018
Senate
Introduced and read a first time 12 Nov 2018
Second reading moved 12 Nov 2018
Second reading debate 12 Nov 2018

Documents and transcripts

Text of bill

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Explanatory memoranda

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Proposed amendments

No proposed amendments have been circulated.

Schedules of amendments

No documents at present

Bills digest

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Notes

Helpful information

Text of bill

  • First reading: Text of the bill as introduced into the Parliament
  • Third reading: Prepared if the bill is amended by the house in which it was introduced. This version of the bill is then considered by the second house.
  • As passed by both houses: Final text of bill agreed to by both the House of Representatives and the Senate which is presented to the Governor-General for assent.

Explanatory memoranda

  • Explanatory memorandum: Accompanies and provides an explanation of the content of the introduced version (first reading) of the bill.
  • Supplementary explanatory memorandum: Accompanies and explains amendments proposed by the government to the bill.
  • Revised explanatory memorandum: Accompanies and explains the amended version (third reading) of the bill. It supersedes the explanatory memorandum.

Proposed amendments

Circulated by members and senators when they propose to make changes to the bill. For details about the outcome of proposed amendments please refer to either the Votes and Proceedings (House of Representatives) or the Journals (Senate).

Schedules of amendments

Schedules of amendments list amendments agreed to by the second house are communicated to the first house for consideration. Subsequent action by either house may also be included in a schedule.