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Part SChedule 1 - Federal Financial Relations (General purpose financial assistance) Determination No. 87 (June 2016) | Zoe

SChedule 1

Summary of relevant agreements for general purpose financial assistance

Payment title	Purpose	Relevant agreement
Compensation for impact on royalties of excise amendment	The Commonwealth provides general purpose financial assistance to compensate Western Australia for the loss of royalty revenue resulting from the removal in the 2008-09 Budget of the exemption of condensate from crude oil excise.	Schedule D – Payment arrangements of the Intergovernmental Agreement
Taxation compensation in respect of Snowy Hydro Limited	The Commonwealth provides compensation payments to New South Wales and Victoria, in the form of general purpose financial assistance, for Commonwealth taxes paid by Snowy Hydro Ltd in proportion to the States' shareholdings. Payments are made in accordance with the Snowy Hydro Tax Compensation Deed between the Commonwealth, New South Wales and Victoria. These taxes would have previously been payable to the States through tax equivalence regime payments.	Schedule D – Payment arrangements of the Intergovernmental Agreement
ACT Municipal Services	The Commonwealth provides general purpose financial assistance to the Australian Capital Territory to:• assist in meeting the additional municipal costs which arise from Canberra's role as the national capital; and• compensate the Australian Capital Territory for additional costs resulting from the national capital planning influences on the provision of water and sewerage services.	Schedule D – Payment arrangements of the Intergovernmental Agreement
Royalty payments
— Offshore Petroleum and Greenhouse Gas Storage Act 2006	The Commonwealth provides general purpose financial assistance to Western Australia from royalties payable under the Offshore Petroleum (Royalty) Act 2006 in respect of the North West Shelf oil and gas project off the coast of Western Australia. The Commonwealth collects these royalties because it has jurisdiction over off‑shore areas.These royalties will be shared between the Commonwealth (approximately one third) and Western Australia (approximately two thirds). These payment arrangements are in accordance with section 75 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006.	Schedule D – Payment arrangements of the Intergovernmental Agreement