Legislative Assembly for the ACT: 2002 Week 7 Hansard (6 June) . . Page.. 2099..
GST revenue grants
(Question No 180)
Mr Humphries asked the Treasurer, upon notice, on 4 June 2002:
(1)What is the quantum of GST Revenue grants received in the ACT for the current financial year as at 31 March 2002?
(2) Is the quantum of GST Revenue grants received as at 31 March 2002 greater or less than the estimates prepared for the 2001 ACT Budget?
(3) What has been the trend in the receipt of GST Revenue grants during the period between 1 October 2001 and 31 March 2002?
(4) How has this pattern receipt of GST Revenue grants varied from the same period in the previous financial year?
(5) What has been the basis for any changes in the pattern of payments of GST Revenue grants between this and the previous financial year?
Mr Quinlan: The answer to the member's question is as follows:
(1) The GST Revenue grants, received for the financial year to March 2002 is $409.8m.
(2) The GST Revenue received to 31 March 2002 is in line with the 2001-02 ACT Budget estimate which was based on payment advice from the Commonwealth. On a full year basis the GST Revenue will be less than the 2001-02 ACT Budget estimate, but this is offset by a corresponding increase in BBA for 2001-02.
(3) GST Revenue payments over the period 1 October 2001 to 31 March 2002 have not fluctuated from the expected cash flows provided by the Commonwealth. The ACT received larger GST Revenue payments in October 2001 and February 2002, in line with expectations, due to the processing of quarterly Business Activity Statements.
(4) The deferral of the September quarter BAS in 2000 meant that a higher GST Revenue payment was received in November 200 rather difference to the proportion of funding received over the October to March period.
(5) When comparing this and the previous financial year, there have been some differences in the pattern of GST Revenue.
The monthly GST Revenue payments were made on the same basis in both years. That is, the payments reflect the amount of GST revenue collected in each month. In most months this comprises GST revenue from monthly Business Activity Statements and taxable imports. In some months the payment is substantially higher when the quarterly Business Activity Statements from businesses with annual turnover of less than $20m are processed.
The differences between the years reflect the changes in reporting requirements imposed by the Commonwealth and are not indicative of any trend in current or future GST Revenue payments.