PLAN9045 Economics For Planners | University Of Sydney
Added on -2020-02-18
| PLAN9045| 12 pages| 1840 words| 128 views
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ECONOMICS 1CourseNameInstitution Affiliation
ECONOMICS 2Federal Government Budget, State Government Budget and Local Government BudgetDifferencesThe federal budget in Sydney largely allocates funds for federal programs. These programs include defense programs and at times it also includes funding for other programs which may be operated at a state level such as public transport, hospitals and school education. It therefore has more access to funding compared to the states. It is observable that the federal government budget is higher than that of the state and local budget. Most of its allocations are to deal with national defense facilities and other allocations to state agencies. Also, it may have a higher allocation in order to deal with externa affairs as well as integration and pension (Wang, 2015).
ECONOMICS 3Looking at the revenues, it is clear that the federal government has more allocated funds by nearly more than half compared to the combination of state allocations. The state allocations are mostly retrieved from gambling taxes, vehicle tax, payroll taxes and property taxes. On the otherhand, the federal revenues are retrieved from the tax from individuals as well as corporate tax.
ECONOMICS 4The headline expenses in the federal budget in Sydney in Sydney include the security and welfare budget, education, defense, housing, transport and communications. Also, the budgetary allocations are higher than those of the state budgets (Smith and Williams, 2013). The state budgets largely deal with social security, housing, transport and communication, education and health. Subject to a few special cases. Quite, area 90 of the Constitution gives the government selective control over the lucrative income surges of traditions and extract obligations (imposes on products, for example, liquor, tobacco and fuel). Until the Second World War, Australians paid pay duty to both state and governments (Wanna and De Vries, 2015). However since 1942, the government has been the sole authority of wage charge. The government has additionally gathered organization assess for more than 100 years, and the GST since 2000. The states could at present gather wage impose on the off chance that they needed to, yet pick not to for political reasons. Segment 96 of the Constitution accommodates the national government to give a
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