Commonwealth act

States Grants (Special Financial Assistance) Act 1957

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Act Number

58 of 1957

Collection

act

Plain English Summary

2/10 complexity

This Act provides a one-off top-up payment to Australian States to ensure they receive adequate federal funding for the 1957–58 financial year.

What it does:

Checks whether the money going to States under existing tax-sharing laws falls short of £190 million (pounds)
If there is a shortfall, pays each State their share of the difference to bring the total up to that £190 million benchmark
Funds this payment from the Commonwealth’s Consolidated Revenue Fund (the government’s main bank account)

Who it affects:

The six Australian States receiving federal financial assistance
State treasuries budgeting for the 1957–58 financial year

Why it matters:

Acts as a safety net guaranteeing minimum funding levels during a specific period
Ensures States don’t lose out if the complex tax reimbursement formulas result in lower-than-expected allocations

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Current sections

Direct links to the current provisions in States Grants (Special Financial Assistance) Act 1957.

States Grants (Special Financial Assistance) Act 1957

STATES GRANTS (SPECIAL FINANCIAL ASSISTANCE).

No. 58 of 1957.

An Act to grant and apply out of the Consolidated Revenue Fund sums for the purpose of Financial Assistance to the States.

[Assented to 20th November, 1957.]

BE it enacted by the Queen’s Most Excellent Majesty, the Senate, and the House of Representatives of the Commonwealth of Australia, for the purpose of appropriating the grant originated in the House of Representatives, as follows:—

Short title.

This Act may be cited as the States Grants (Special Financial Assistance) Act 1957.

Commencement.

This Act shall come into operation on the day on which it receives the Royal Assent.

Financial assistance to States.

There is payable to each State, during the year which commenced on the first day of July, One thousand nine hundred and fifty-seven, for the purpose of financial assistance, an amount calculated in accordance with the next succeeding section.

Amount of financial assistance payable.

The amount payable to a State under this Act is the amount by which the amount calculated in respect of that State under sections six and seven of the States Grants (Tax Reimbursement) Act 1946–1948 in respect of the year which commenced on the first day of July, One thousand nine hundred and fifty-seven, is less than the amount which would be payable to that State if the aggregate grant to be divided amongst the States in accordance with section seven of that Act in respect of that year were One hundred and ninety million pounds.

Appropriation.

Payments in accordance with this Act shall be made out of the Consolidated Revenue Fund, which is appropriated accordingly.

Source text

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

1 States Grants (Special Financial Assistance) Act 1957