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PROBLEM: The redistribution of money from WA to other states has dogged Mike Nahan. Photo: Attila Csaszar

Cash drain as boom lag flows through

WA has had nearly $170 billion redistributed to other states by the federal government during the past 10 years, with the GST only one tax with a problem.

Western Australians contributed nearly $9,000 per person to other states through the federal budget in 2014-15, more than 30 times the figure of the next most generous state, NSW.

Buried in the recent state budget documents is Department of Treasury modelling for the 2014-15 financial year, which estimates that despite Western Australians paying upwards of $54 billion in tax to the Commonwealth, the state received only $31.4 billion in spending.

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Share Price

Closing price for the last 90 trading days
Source: Morningstar

BN30 Index

Index = 100 as of 4 Jan 2016
Source: Morningstar

Total Shareholder Return as at 31/08/17

1 year TSR5 year TSR
220thFortescue Metals Group30%15%
717 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

23/08/17
$510k Bought
20/04/17
$52k Bought
03/11/16
$6.9m Bought
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-Fortescue Metals Group$10,999.7m
490 listed resources companies ranked by revenue.
Source: Morningstar

Remuneration from Fortescue Metals Group

4thNev Power$5.324m
662ndMark Barnaba$223k
780thSharon Warburton$170k
Ranked by total remuneration from all listed WA companies

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