Legislative Assembly for the ACT: 2003 Week 13 Hansard (27 November) . . Page.. 4968 ..
information sharing exercise and followed the presentation from the Under Treasurer earlier on the same day.
(4) The Department of Treasury liaises with the credit rating agencies Standard and Poor's and Moody's regarding the timetable for the presentations and submission, and the scheduled release date of the final rating. There is no other ad hoc contact.
(5) The Department of Treasury is provided with a draft report for comment prior to release.
Goods and services tax revenue
(Question No 1154)
Mr Smyth asked the Treasurer, upon notice:
In relation to the goods and services tax:
(1) The ACT Budget for 2003-04 estimated that the ACT would receive $626.5 million in 2003-04 from the goods and services tax. Is this estimate still valid;
(2) If there has been any changes to the estimate of receipts from this tax, what is the new estimate of receipts and what is the basis for the change in the estimate;
(3) For each of the years for which revenue has been received from the goods and services tax:
(a) what was the estimate of revenue for each year;
(b) what was the actual revenue received for each year;
(c) what were the reasons for any variation between the estimated revenue and the actual revenue received;
(4) For the out-years, how have the estimates for receipts of revenue from the goods and services tax been developed; and
(5) What factors are likely to influence these estimates?
Mr Quinlan: The answer to the member's question is as follows:
(2) The new estimate is $634.5m. The reason for this change is a larger GST pool and a smaller Territory population.
The Government expects to revise its estimate following the release of the Commonwealth's Mid-Year Economic and Fiscal Outlook (MYEFO) on 8 December 2003.
(3) ACT GST revenue receipts to date(a) and (b)