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CANBERRA- As part of reforms and cuts to ensure the budget remains in surplus, treasurer and Kooyong MP Josh Frydenberg today announced that, as part of the budgetary package, the government intends to amend a GST reform package passed in late 2018. The change will effect a plan to introduce a GST share floor. In 2015, Western Australia's share of GST fell to 30 cents of every dollar they put in, due to a strong economy driven by the mining boost. As of the 2022-2023 financial year, no state or territory will be able to recieve any less than 70 cents for every dollar. While it was planned that this would be increased to 75 cents after two years, the federal government has announced they'll scrap this plan. A spokesperson for Frydenberg's office told the ABC that "this plan is part of our party's sensible economic plan and to ensure that the numbers remain in the black. We are committed to ensuring that all states recieve an equitable share of GST".
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