- Anguilla
- Antigua
- Argentina
- Aruba, Bonaire, Curacao and St. Maarten
- Bahamas
- Belize
- Bolivia
- Brazil
- British Virgin Islands
- Canada LLP
- Canada RCGT
- Cayman Islands
- Chile
- Colombia
- Costa Rica
- Dominica
- Dominican Republic
- Ecuador
- El Salvador
- Grenada
- Haiti
- Honduras
- Jamaica
- Mexico
- Montserrat
- Nicaragua
- Panama
- Paraguay
- Peru
- Puerto Rico
- St Kitts
- St Lucia
- St Vincent and the Grenadines
- Trinidad & Tobago
- United States
- Uruguay
- Venezuela
- Albania
- Armenia
- Austria
- Azerbaijan
- Belarus
- Belgium
- Bosnia and Herzegovina
- Bulgaria
- Channel Islands
- Croatia
- Cyprus
- Czech Republic
- Denmark
- Estonia
- Finland
- France
- Georgia
- Germany
- Gibraltar
- Greece
- Hungary
- Iceland
- Ireland
- Isle of Man
- Israel
- Italy - Bernoni
- Italy - Ria
- Kazakhstan
- Kosovo
- Kyrgyzstan
- Latvia
- Liechtenstein
- Lithuania
- Luxembourg
- Macedonia
- Malta
- Moldova
- Monaco
- Netherlands
- Northern Ireland
- Norway
- Poland
- Portugal
- Romania
- Russia
- Serbia
- Slovak Republic
- Slovenia
- Spain
- Sweden
- Switzerland
- Tajikistan
- Turkey
- Ukraine
- UK
- Uzbekistan
- New South Wales State Budget 2014-2015
The New South Wales (NSW) State Government handed down its Budget on 17 June 2014.
The headline items from the State Budget are:
- 2014-15 Budget provides for a strengthening in the State’s fiscal position with a minor deficit of $283 million estimated for 2014-15
- State economic growth is the highest in Australia at 4.7%
- An expected above-trend growth of around 3% in each of the three years to 2015-16
- Growth will be led by household consumption and dwelling investment initially, and be underpinned by a strong improvement in non-mining business investment later
- Stronger budget surpluses are expected from 2015-16 and across the forward estimates, backed by strong revenues and an improved outlook for the NSW economy. An expected $2.2 billion surplus is expected for 2016-17
Major announcements
Major announcements from the State Budget included:
- Investment of $15 billion in infrastructure in 2014-15, which will bring the State’s total infrastructure spend to $61.5 billion over the four years to 2017-18
- Major capital works and spending over the next four years include:
upgrades to the Pacific Highway ($5.8 billion), Princes Highway ($681 million), Western Sydney Growth Roads ($557 million) and Great Western Highway and Bells Line of Road ($359 million)
the WestConnex Motorway project ($3.8 billion)
rail projects, including the North West Rail Link ($5.2 billion) and the Northern Sydney Freight Corridor ($576 million)
CBD and South East Light Rail ($401 million) - New South Wales signed up to the Asset Recycling Initiative in April 2014. As part of this, the Commonwealth will provide incentive payments of up to 15% of the assessed value of the asset for States that divest assets and recycle funds into new infrastructure investment
State taxes
Announcements in relation to State taxes included:
- Tax revenue is expected to grow by an average of 5.3% p.a. over the four years to 2017-18
- For 2014-15, GST revenue is estimated at $16.8 billion. GST payments are estimated to grow from $16.8 billion in 2014-15 to $18.9 billion in 2017-18, or 4.5% per annum on average
- Given the recent strengthening in employment growth, subdued payroll tax collections in 2013-14 are expected to recover in future years, underpinned by additional investment in Office of State Revenue collection and audit activities
- The NSW Office of State Revenue has released a publication stating an average premium rate reduction of 5% for WorkCover
- From 1 July 2014, the threshold for the First Home Owners Grant on new homes will be increased to $750,000 (from $650,000)
- Abolishment of all remaining Intergovernmental Agreement taxes from 1 July 2016. This includes the abolition of transfer duty on non-real business assets such as patents and intellectual property, mortgage duty on business transactions and duty on unlisted marketable securities