In media release No 2012/027, issued 23 April 2012, the Treasurer, Wayne Swan, announced the release of the first interim report of the independent GST Distribution Review Panel, comprising John Brumby, Bruce Carter and Nick Greiner.
The Commonwealth distributes GST revenue to ensure that all States and Territories have the ability to provide broadly equivalent services in areas such as education, health and public transport. As a result, States with strong revenue bases receive relatively less GST revenue.
The Panel is considering whether the current arrangements for implementing equalisation can be improved, in light of the major structural changes shaping the Australian economy both now and into the future.
The first interim report outlines the Panel's current thinking on proposals and seeks further submissions from states, territories and other interested parties on the information and concepts outlined in this interim report.