❓ Hon P G Pendal's question concerns the WA government's commitment to abolishing Financial Institutions Duty (FID) and Debits Tax, as per the Intergovernmental Agreement, following changes to the GST base. The government confirms its intention to proceed with the abolitions, subject to GST revenue adequacy.
AnsweredQoN 117Legislative Assembly
QuestionView source ↗
Under the Commonwealth Government's original tax reform proposals, Financial Institutions Duty (FID) and Debits Tax were to be abolished from 1 January 2001. However, following the Commonwealth's subsequent agreement with the Australian Democrats to exclude most food from the GST base, it was agreed to delay abolition of FID until 1 July 2001, and to abolish Debits Tax by 1 July 2005 (subject to review by the Ministerial Council of Commonwealth, State and Territory Treasurers). The previous State Government was a signatory to the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations , which provides for the abolition of FID from 1 July 2001 and the abolition of Debits Tax by 1 July 2005. (4) - (5) This Government will proceed with abolishing FID from 1 July 2001 (legislation giving effect to this has already been passed). We also plan to abolish Debits Tax by the agreed date of 1 July 2005, subject to the GST raising sufficient revenue for the States.
The previous State Government was a signatory to the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations , which provides for the abolition of FID from 1 July 2001 and the abolition of Debits Tax by 1 July 2005. (4) - (5) This Government will proceed with abolishing FID from 1 July 2001 (legislation giving effect to this has already been passed). We also plan to abolish Debits Tax by the agreed date of 1 July 2005, subject to the GST raising sufficient revenue for the States.
(4) - (5) This Government will proceed with abolishing FID from 1 July 2001 (legislation giving effect to this has already been passed). We also plan to abolish Debits Tax by the agreed date of 1 July 2005, subject to the GST raising sufficient revenue for the States.
This Government will proceed with abolishing FID from 1 July 2001 (legislation giving effect to this has already been passed). We also plan to abolish Debits Tax by the agreed date of 1 July 2005, subject to the GST raising sufficient revenue for the States.
The previous State Government was a signatory to the Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations , which provides for the abolition of FID from 1 July 2001 and the abolition of Debits Tax by 1 July 2005. (4) - (5) This Government will proceed with abolishing FID from 1 July 2001 (legislation giving effect to this has already been passed). We also plan to abolish Debits Tax by the agreed date of 1 July 2005, subject to the GST raising sufficient revenue for the States.
(4) - (5) This Government will proceed with abolishing FID from 1 July 2001 (legislation giving effect to this has already been passed). We also plan to abolish Debits Tax by the agreed date of 1 July 2005, subject to the GST raising sufficient revenue for the States.
This Government will proceed with abolishing FID from 1 July 2001 (legislation giving effect to this has already been passed). We also plan to abolish Debits Tax by the agreed date of 1 July 2005, subject to the GST raising sufficient revenue for the States.
AnswerView source ↗
Answered
26 June 2001
Response time
54 days
(1) - (3)
Under the Commonwealth Government's original tax reform proposals, Financial Institutions Duty (FID) and Debits Tax were to be abolished from 1 January 2001. However, following the Commonwealth's subsequent agreement with the Australian Democrats to exclude most food from the GST base, it was agreed to delay abolition of FID until 1 July 2001, and to abolish Debits Tax by 1 July 2005 (subject to review by the Ministerial Council of Commonwealth, State and Territory Treasurers).
The previous State Government was a signatory to the
Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations
, which provides for the abolition of FID from 1 July 2001 and the abolition of Debits Tax by 1 July 2005.
(4) - (5)
This Government will proceed with abolishing FID from 1 July 2001 (legislation giving effect to this has already been passed). We also plan to abolish Debits Tax by the agreed date of 1 July 2005, subject to the GST raising sufficient revenue for the States.
Under the Commonwealth Government's original tax reform proposals, Financial Institutions Duty (FID) and Debits Tax were to be abolished from 1 January 2001. However, following the Commonwealth's subsequent agreement with the Australian Democrats to exclude most food from the GST base, it was agreed to delay abolition of FID until 1 July 2001, and to abolish Debits Tax by 1 July 2005 (subject to review by the Ministerial Council of Commonwealth, State and Territory Treasurers).
The previous State Government was a signatory to the
Intergovernmental Agreement on the Reform of Commonwealth-State Financial Relations
, which provides for the abolition of FID from 1 July 2001 and the abolition of Debits Tax by 1 July 2005.
(4) - (5)
This Government will proceed with abolishing FID from 1 July 2001 (legislation giving effect to this has already been passed). We also plan to abolish Debits Tax by the agreed date of 1 July 2005, subject to the GST raising sufficient revenue for the States.
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