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As part of 'A new Tax System' introduced by the Commonwealth Government, in agreement with the States, from 1 July 2000, the Goods and Services Tax (GST) replaced various Commonwealth and State taxes. The GST is passed on to the States as grants, along with budget balancing assistance to ensure that the States are not worse off in the early years of the introduction of the GST. These grants replace the previous general revenue assistance grants, and the State taxes listed above, resulting in a change in the revenue mix for the Tasmanian General Government sector. Commonwealth current grants are the major source of revenue for the Tasmanian General Government sector, and have increased as a proportion of total revenue under the new arrangements. In 2000-01, Commonwealth current grants made up 58% of total revenue, up from 47% in 1999-2000, while State taxes were 20% of total revenue in 2000-01, down from 26% in 1999-2000.

STATE GENERAL GOVERNMENT OPERATING STATEMENT, Tasmania
				1998-99	1999-2000	2000-01
Item				$m	$m	$m
	GFS Revenue
		Taxation revenue		659	690	547
		Current grants and subsidies		1,110	1,228	1,555
		Sales of goods and services		331	314	283
		Interest income		36	38	30
		Other		285	334	269
		Total		2,422	2,604	2,684
less
	GFS Expenses
		Gross operating expenses
			Depreciation	85	138	145
			Employee expenses	1,048	1,091	1,164
			Other operating expenses	656	682	697
			Total	1,789	1,911	2,006
		Nominal superannuation interest expenses		69	68	67
		Other interest expenses		189	157	122
		Current grants and transfers		271	294	380
		Capital grants and transfers		34	40	4
		Total		2,351	2,470	2,578
equals
	GFS Net Operating Balance			71	134	106
less
	Net acquisition of non-financial assets			11	-42	-38
equals
	GFS Net Lending(+)/Borrowing(-)			59	176	144
Source: Government Finance Statistics, Australia (Cat. no. 5512.0) and ABS data available on request, Government Finance Statistics Collection.