This work is guided by the Intergovernmental Agreement on Federal Financial Relations, which sets the overarching framework for financial relations between the Commonwealth, states and territories. At a high level, it outlines the principles for collaboration on policy development, service delivery and the implementation of key economic and social reforms that are of national significance.
In the 2023–24 Federal Budget delivered in May 2023, Commonwealth payments to Queensland were estimated to be around $39.3 billion in 2023–24, comprising:
In total, Commonwealth payments make up around 48 per cent of Queensland’s revenue.
Australia’s federal relations architecture includes intergovernmental forums where Commonwealth, state and territory ministers can meet to progress a range of priority cross-jurisdictional issues.
At the core of this architecture is National Cabinet, the forum for the Prime Minister, Premiers and Chief Ministers to meet and work collaboratively on national priorities.
Under this architecture are two parallel Treasurers forums:
Queensland Treasury directly supports the Treasurer and Under Treasurer to participate in matters around CFFR and BOT. Queensland Treasury also provides advice to support the Premier and portfolio ministers in broader matters relating to Commonwealth-State financial relations.