Six Aussie states to get more from GST

  • Business
  • Saturday, 18 Sep 2004

CANBERRA: Australia's six states and two territories would receive an extra A$3bil over five years from a national goods and services tax (GST), Prime Minister John Howard said yesterday. 

“It is in large measure a product of a booming economy, it's not a product of higher tax rates ... courtesy of the GST the states are rolling in money,” Howard told Australian radio. 

The 10% value-added tax, introduced shortly before the Sydney Olympics in 2000, brought in A$24.3bil in its first year.  

It was projected in the May budget to bring in A$35.2bil in revenue for the fiscal year ending June 30, 2005. – Reuters 

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