You can trust me, Turnbull tells WA on GST

Prime Minister Malcolm Turnbull is promising Western Australia he will deliver an increase to the state's share of the GST later this year.

Prime Minister Malcolm Turnbull is assuring Western Australia he can be counted on to keep his promise to lift its share of GST revenue.

Changes to the tax formula were announced last month and would put in place a floor to ensure the state gets no less than 75 cents per person for every dollar of GST raised there.

State and territory treasurers will meet with their federal counterpart Scott Morrison next month to sign off on changes.

"You can always trust us. Totally," Mr Turnbull told Perth radio 6PR.

"You're entitled to be cynical but you should give me this credit - no-one has accused me or my government of breaking any election promises."

During the mining boom WA's share of the GST dropped to 30 cents in the dollar, topped up by federal government funds in what Mr Turnbull called a bandaid solution.

Under the new proposal a 70 cent floor under which no state can fall would be applied from 2022/23, rising to 75 cents from 2024/25.

States and territories are slated to share $67.3 billion in GST payments this financial year, rising to $112.25 billion in 2028/29.

Mr Turnbull again rejected the idea that the GST rate could rise from 10 per cent.

"We're committed to lower taxes," he said.


Share
2 min read

Published

Source: AAP


Share this with family and friends


Get SBS News daily and direct to your Inbox

Sign up now for the latest news from Australia and around the world direct to your inbox.

By subscribing, you agree to SBS’s terms of service and privacy policy including receiving email updates from SBS.

Download our apps
SBS News
SBS Audio
SBS On Demand

Listen to our podcasts
An overview of the day's top stories from SBS News
Interviews and feature reports from SBS News
Your daily ten minute finance and business news wrap with SBS Finance Editor Ricardo Gonçalves.
A daily five minute news wrap for English learners and people with disability
Get the latest with our News podcasts on your favourite podcast apps.

Watch on SBS
SBS World News

SBS World News

Take a global view with Australia's most comprehensive world news service
Watch the latest news videos from Australia and across the world