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A NEW TAX SYSTEM (COMMONWEALTH-STATE FINANCIAL ARRANGEMENTS) ACT 1999 - SECT 15

Competition Agreement payments
(1)
The Treasurer may pay, by way of financial assistance to a State, for a GST year:

(a)
an amount that does not exceed; or

(b)
amounts that in total do not exceed;

the maximum competition payment amount worked out under whichever of subsection (2), (3) or (4) applies.

(2)
The maximum competition payment amount for a State for the 2000-01 GST year is:

where:

"base amount" means the sum of the maximum amounts referred to in section 12A of the States Grants (General Purposes) Act 1994 (as in force immediately before its repeal) for the financial year commencing on 1 July 1999.

"index factor" means the index factor for the GST year (see section 8).

"State population" means the estimated population of the State on 31 December in the GST year (see subsection 7(1)).

"total population" means the sum of the estimated populations of all of the States on 31 December in the GST year.

(3)
The maximum competition payment amount for a State for the 2001-02 GST year is:

where:

"base amount" means the total of the maximum competition payment amounts for the year commencing on 1 July 2000 for each of the States.

"index factor" means the index factor for the GST year (see section 8).

"State population" means the estimated population of the State on 31 December in the GST year (see subsection 7(1)).

"total population" means the sum of the estimated populations of all the States on 31 December in the GST year.

(4)
The maximum competition payment amount for a State for a later GST year is:

where:

"base amount" means the total of the maximum competition payment amounts for the previous GST year for each of the States.

"index factor" means the index factor for the GST year (see section 8).

"State population" means the estimated population of the State on 31 December in the GST year (see subsection 7(1)).

"total population" means the sum of the estimated populations of all of the States on 31 December in the GST year.


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