South Australia will get an extra $257 million over the next eight years from the proposed new carve-up of GST funds, Premier Steven Marshall says.
Mr Marshall has welcomed the new arrangements along with the pledge from Prime Minister Malcolm Turnbull that no state will be worse off under the deal.
"Over the coming months our treasury officers will work with federal treasury officers to assure us that any proposed agreement will mean SA is, in fact, no worse off," the premier said.
"After SA Treasury's detailed analysis is conducted, obviously the SA government will only agree to the proposed deal if it is in South Australia's best interests to do so."
Under the new proposals, the benchmark will shift over eight years to a new standard that will ensure the fiscal capacity of all states and territories is at least the equal of NSW or Victoria, whichever is higher, evening out the impact of extreme events such as the WA mining boom.
They will also involve a permanent boost to the pool of funds with the states and territories slated to receive $67.3 billion in GST payments in 2018/19, rising to $112.25 billion in 2028/29.
Despite claims of more funds flowing to SA, the opposition said SA could lose out.
Labor leader Peter Malinauskas said the prime minister was "seeking to address a political problem" with his proposed changes which would help Western Australia.
"That means that we must be losing something somewhere and we want to find out exactly where that is," Mr Malinauskas told reporters on Thursday.
