GST Hit by More Than $6 Billion for NSW

New South Wales Treasurer Dominic Perrottet addresses the media during a press conference at NSW Parliament House on March 17, 2020 in Sydney, Australia. Mark Metcalfe/Getty Images

NSW must come to terms with the loss of more than $6 billion in GST revenue over the next few years after the federal budget laid bare the impact on states.

Treasurer Josh Frydenberg overnight revealed the nation’s financial blueprint which included news that the GST pool for 2020/21 is forecast at $59.9 billion, down $600 million at the end of the 2019/20 financial year.