COMMONWEALTH OF AUSTRALIA CONSTITUTION ACT - SECT 87

COMMONWEALTH OF AUSTRALIA CONSTITUTION ACT - SECT 87

    During a period of ten years after the establishment of the Commonwealth and thereafter until the Parliament otherwise provides, of the net revenue of the Commonwealth from duties of customs and of excise not more than one-fourth shall be applied annually by the Commonwealth towards its expenditure.

    The balance shall, in accordance with this Constitution, be paid to the several States, or applied towards the payment of interest on debts of the several States taken over by the Commonwealth.