The Property Council’s pre-budget submission is calling on the WA Government to rule out any increase in property taxes in 2010-11.
The property market remains fragile in the wake of the global financial crisis, interest rates are rising and property businesses requiring credit are paying a significant premium.
Tax increases would negate the government’s successful economic stimulus measures.
Other initiatives proposed by the Property Council are:
- a cap on annual land tax assessments and broadening the land tax base,
- stamp duty concessions for off-the-plan property purchases,
- financial commitment for key urban growth projects,
- abolition of the Perth CBD parking tax,
- incentives for building owners to green retrofit their buildings,
- COAG support for accelerated depreciation on green buildings,
- Implement savings on water drainage charges proposed by the Economic Regulatory Authority,
- announce a review of State taxes to compliment the Henry tax review.
Click on attachment to download the Property Council’s pre-budget submission.