Commonwealth legislation

A New Tax System (Commonwealth-State Financial Arrangements) Act 1999 - Determination of the Guaranteed Minimum Amount (20/06/2008)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

1/10 complexity

This decision records the Treasurer’s formal determination of the guaranteed minimum amounts (GMA) for each Australian state and territory for 2007–08. It fixes the dollar floor each jurisdiction must receive; if actual GST receipts fall below that floor, the Commonwealth tops up the difference. This was the final year of the GST transition guarantees.

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Current sections

Direct links to the current provisions in A New Tax System (Commonwealth-State Financial Arrangements) Act 1999 - Determination of the Guaranteed Minimum Amount (20/06/2008).

A New Tax System (Commonwealth-State Financial Arrangements) Act 1999 - Determination of the Guaranteed Minimum Amount (20/06/2008)

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COMMONWEALTH OF AUSTRALIA

A New Tax System (Commonwealth-State Financial Arrangements) Act 1999

DETERMINATION OF THE GUARANTEED MINIMUM AMOUNT

WHEREAS in accordance with clause 2 of Schedule 1 to the A New Tax System (Commonwealth‑State Financial Arrangements) Act 1999, the Treasurer must, before 20 June in a transitional GST year, determine the guaranteed minimum amount for each State for the GST year.

NOW THEREFORE I, Wayne Maxwell Swan, Treasurer of the Commonwealth of Australia, hereby DETERMINE the following guaranteed minimum amounts for the 2007‑08 GST year:

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Dated this 20th day of June, 2008

Wayne Swan Treasurer

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.