Fed: Stamp duty windfall cuts NSW, Vic share of federal funding

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Fed: Stamp duty windfall cuts NSW, Vic share of federal funding

By Jim Hanna, Economics Correspondent

CANBERRA, Feb 27 AAP - New South Wales and Victoria would have their share of federalfunding cut because of their windfall gains from stamp duty on property sales, the CommonwealthGrants Commission (CGC) said today.

All states and territories would receive an increase in their actual commonwealth fundingfor 2002/03 with total funding rising to $38.04 billion from $36.48 billion in 2001/02,the CGC said in its latest report.

But NSW's share of commonwealth funding would be lower in 2002/03 (31.41 per cent from31.91 per cent), as would …