A complete review of the methodology underlying the CGC’s advice to Government on the relative fiscal capacity of States and Territories is conducted every five years. The purpose of the review is to determine the most appropriate methods and data for measuring State and Territory relative fiscal capacity.
On 21 November 2018, the Chairperson of the CGC, Mr Greg Smith, released a statement on comments in the Western Australia Parliament by the Treasurer the Hon. B.S. Wyatt MLA.
Submissions on staff discussion paper Improving Policy Neutrality in the Mining Revenue Assessment are due on 25 January 2019. Submissions on the draft assessment papers are now available.
The update process is conducted annually and provides recommendations to the Commonwealth Treasurer on the relative fiscal capacity of the States using the latest review methods. Calculations are updated using the latest reliable data for the previous three financial years.
The 2018 Update Report was provided to the Commonwealth Treasurer in March 2018. The recommended relativities will be used to determine the distribution of GST revenue among the States in 2018-19.
The Commission is currently consulting with the Commonwealth and States on new issues for the 2019 Update. Submissions are due on 23 November 2018.