As shoppers, when we make a big purchase, we like knowing it comes with a guarantee. It gives us a feeling of security and fairness, knowing we can depend on it if something unexpected happens. One less thing to worry about as we get on with other parts of life.
State and territory treasurers are no different. Since 2018, we’ve relied on the Goods and Services Tax (GST) No Worse off Guarantee. It centres on an agreed approach between the Commonwealth and states and territories on how the proceeds of the GST are shared across the nation fairly and equitably. It means all Australians get access to government-provided services and infrastructure, no matter where they live.
