States and terrorities say proposal will not cover funding hole,but give in-principle support to consider sharing income tax revenueState and territory leaders gain given in-principle support to consider a proposal to share income tax revenue, but gain not reached a consensus on each jurisdiction setting its own rates, or following the conclusion of Friday’s council of Australian governments (Coag) meeting.
The prime minister,Malcolm Turnbull, had floated the plan that states could steal a share of income tax revenue in exchange for the cancellation of commonwealth grants earlier in the week. He conceded that the jurisdictions could eventually levy their own tax rates.Continue reading...
Source: theguardian.com