Document ID: chunk:federal_register_of_legislation:F2016L01938:body:0:p2
Version: federal_register_of_legislation:F2016L01938
Segment Type: other
Provision Reference: 
Character Range: 3013–6834

9(1) of the Act, the amounts specified in Table 1 are to be credited to the COAG Reform Fund before being paid on 21 November 2016 to the States specified in that table for the purpose of making a grant of general purpose financial assistance to those States.

Table 1: General purpose financial assistance for payment on 21 November 2016

11.         Schedule 2 to this determination provides further information on these payments

Debit limit
12.         Subsection 9(3) of the Act provides that the total amount credited to the COAG Reform Fund for the purpose of making a grant of general purpose financial assistance in the financial year starting on 1 July 2016 must not exceed $5,000,000,000.00.
13.         The amounts specified in Table 2 are the total amounts determined in the 2016-17 financial year in respect of general purpose financial assistance, including this determination.

Table 2: Total cumulative payments of general purpose financial assistance in 2016-17

14.         The total amount determined for payment of general purpose financial assistance to date in the 2016-17 financial year does not exceed the general debit limit.

SChedule 1

Summary of relevant agreements for general purpose financial assistance
Payment title                                              Purpose                                                                                                                                                                                                                                                                                                                                            Relevant agreement
Compensation for impact on royalties of excise amendment   The Commonwealth provides general purpose financial assistance to compensate Western Australia for the loss of royalty revenue resulting from the removal in the 2008-09 Budget of the exemption of condensate from crude oil excise.                                                                                                              Schedule D – Payment arrangements of the Intergovernmental Agreement
ACT Municipal Services                                     The Commonwealth provides general purpose financial assistance to the Australian Capital Territory to:                                                                                                                                                                                                                                             Schedule D – Payment arrangements of the Intergovernmental Agreement
                                                           •                 assist in meeting the additional municipal costs which arise from Canberra's role as the national capital; and
                                                           •                 compensate the Australian Capital Territory for additional costs resulting from the national capital planning influences on the provision of water and sewerage services.
Royalty payments
 — Offshore Petroleum and Greenhouse Gas Storage Act 2006  The Commonwealth provides general purpose financial assistance to Western Australia from royalties payable under the Offshore Petroleum (Royalty) Act 2006 in respect of the North West Shelf oil and gas project off the coast of Western Australia. The Commonwealth collects these royalties because it has jurisdiction over off‑shore areas.  Schedule D – Payment arrangements of the Intergovernmental Agreement
                                                           These royalties will be shared between the Commonwealth (approximately one third) and Western Australia (approximately two thirds). These payment arrangements are in accordance with section 75 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006.