Federal Financial Relations (General Purpose Financial Assistance) Determination 2009 No. 1 (April)
Amounts of General Purpose financial assAmounts of General Purpose financial assistance for payment on 21 April 2009
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Amounts of General Purpose financial assistance for payment on 21 April 2009
(a) No amount payable this month.
(b) This determination provides for the recovery of the overpayment of royalties between July and December 2008 and the payment of an additional amount of compensation for this period. The royalty payments between July and December 2008 continued to be calculated on the basis that condensate was not subject to excise. Subsequently, the Commonwealth has calculated that the amount of royalty paid to Western Australia during this time included $34,403,339.49 that should have been paid as compensation for the decision to put an excise on condensate. These adjustments will ensure that the amount of royalties and compensation paid to Western Australia for the year will be correct for budget accounting purposes. The net impact of these adjustments on the payment to Western Australia will be nil.