Tag Archives: gst

Exciting week for economy watchers: State of the States, a possible rate cut, and the Budget

CommSec’s latest State of the States Report is out today, and, while I think its placement of Queensland in around the middle of Australia’s States and Territories (5th out of 8) is reasonable, I have some sympathy for Queensland Treasurer … Continue reading

Posted in Budget, Housing, Infrastructure, Macroeconomy, Uncategorized | Tagged , , , , , , , , , , , , | 2 Comments

Post-Budget lunch featuring Michael Knox, Morgans’ Chief Economist

Queensland has already received some good news regarding the upcoming 2016-17 Federal Budget, with the announcement two weeks’ ago that our share of GST revenue will be over $500 million higher in 2016-17 than we previously expected (see my post … Continue reading

Posted in Budget, Uncategorized | Tagged , , , , , , , , , , , | Leave a comment

Huge disparities in GST carve up per capita: NT gets $13k per person, WA gets $760

Commenting on my post from earlier today, a colleague noted that, in per capita terms (rather than in terms of total amounts), three States and Territories, the Northern Territory, Tasmania and South Australia, do much better than Queensland in the … Continue reading

Posted in Tax, Uncategorized | Tagged , , , , , , , , , , | Leave a comment

Qld second biggest winner from GST redistribution

Queensland is the second biggest winner from the carve up of GST revenue that is dictated by the Commonwealth Grants Commission. In 2016-17, Queensland is to receive $2.1 billion more than we would if the GST revenue, which is collected … Continue reading

Posted in Budget, Queensland Government, Uncategorized | Tagged , , , , , , , | 2 Comments

Extra GST revenue welcome, but Qld still faces big fiscal challenges

The Queensland Government must be pleased the Commonwealth Grants Commission (CGC) has recommended it receive an additional $520 million above what it might have expected from the GST revenue carve up for 2016-17 (see 2016 Update Report). The gain to … Continue reading

Posted in Budget, Infrastructure, Uncategorized | Tagged , , , , , , , | Leave a comment

Brisbane ABC radio interview on raising the GST

I had a good chat this morning with Terri Begley on 612 ABC Brisbane regarding proposals to raise more revenue from the GST: What raising the GST actually means I noted that raising the GST and cutting more inefficient taxes … Continue reading

Posted in Tax | Tagged , , , , , , , , , , , , , | 6 Comments

Townsville ABC radio interview on GST

The GST debate continues, with much attention focused on the regressive nature of the GST. That is, because poorer households typically consume higher fractions of their incomes than richer households, they pay proportionally more of their incomes in GST. Hence … Continue reading

Posted in Tax | Tagged , , , , , , , , | 1 Comment

Tax mix switch to GST desirable and inevitable

I’m very pleased the Turnbull Government is pushing to raise more money from the GST, as this would allow cuts to more inefficient taxes such as income tax and stamp duty, and would be good for productivity and economic growth. … Continue reading

Posted in Tax | Tagged , , , , , , , | 4 Comments

Medicare levy hike would not address major problem of vertical fiscal imbalance

The Daily Telegraph today reports some new modelling on the proposed Medicare levy hike undertaken by my old friend and former Queensland resident Ben Phillips, now Principal Research Fellow at NATSEM: Medicare: Levy hike would cost families $2000 a year … Continue reading

Posted in Tax | Tagged , , , , , , , , | 2 Comments

GST much more efficient way to raise revenue than income tax

Flavio Menezes, Economics Professor at the University of Queensland, has an interesting piece at the Conversation fact checking a bold claim by federal MP Andrew Leigh that the GST is as economically inefficient as the income tax and less equitable … Continue reading

Posted in Tax | Tagged , , , , , , , | 2 Comments