NO.045

Queensland’s GST Revenue

It is now obvious why Peter Beattie was happy to sign up Queensland to the

New Tax System.

The Queensland Government’s new spending announced today is funded from the

New Tax System introduced by the Commonwealth Government. So far, the Queensland

Government has received $4,658,223,345 in GST revenue from the Commonwealth.

Next financial year, GST payments for the Queensland Government are expected

to total $5,198,300,000.

The Commonwealth’s New Tax System also pays Queensland to abolish State taxes

such as stamp duty on quoted marketable securities on 1 July this year. It allows

the Queensland Government to plan for future spending increases and tax cuts.

The GST is already paying for Queensland’s schools, hospitals, roads and environmental

protection, as well as paying the salaries of State government employees such

as police and nurses.

The biggest threat to these Queensland public services is Kim Beazley’s proposed

rollback of the GST, which would, by definition, reduce revenue and reduce services

to Queensland.

Canberra

19 June 2001