The Northern Territory wants to maintain a competitive
tax environment that encourages investment, creates jobs and
attracts business, while raising sufficient revenue to contribute
to funding government services.
The Northern Territory receives a higher proportion of its
revenue from the Commonwealth than any other Australian
jurisdiction, with around 70% of its total revenue being provided
by the Commonwealth. Around half of the Territory's total
revenue is comprised of goods and services tax
(GST) revenue.
With the apparent loss of $2 billion in GST revenue over the
next four years, the Northern Territory Government has stated that
it is facing a challenging budget position, needing to compensate
for the lost Commonwealth funding by providing additional own
sourced revenue to continue growth and the provision of essential
community services.
