* consumption tax, in Australia, has some of its origins in the introduction and expansion of sales tax which has been described as a regressive tax (pp.5-8)

* the business community has been one sector that has directly championed the introduction of a goods and services tax (p.9)

* the federal parliament has the fundamental legislative control over the recently introduced goods and services tax (pp.12-13)

* federal-state financial relations have been altered, to some degree, by the abolition of financial assistance grants and revenue replacement grants – and by the distribution of goods and services tax (GST) revenue amongst the states and territories (pp.10-11)

* business activity in the individual states may, in fact, be assisted by the accompanying abolition of a range of state taxes (pp.10-12)

* goods and services tax revenue should grow significantly in the years to come, and should eventually benefit NSW (pp.15-17)

* the role of the Commonwealth Grants Commission in apportioning the shares of GST revenue – amongst the various states and territories – may over-advantage some jurisdictions and discriminate against others (pp.17-20)

* NSW’s concentration of wealth should insulate the state from any initial disadvantages in shares of GST revenue (pp.14-15)