The Property Council has today released its 2012-13 pre-budget submission, ahead of the Queensland Government’s September Budget.
The property industry has been highlighting the inefficiency and inequity of Queensland’s tax system for years and the Commission of Audit Interim Report released last week only reinforces the critical need for change.
In line with the Audit’s recommendations, the Property Council is calling for a complete review of our state’s taxation system.
For too long, revenue has been generated from a narrow tax base, with the property sector carrying more than our fair share of the burden.
To strengthen the State’s fiscal position, the tax base must be broadened, and the limited funds available invested in areas that will provide the highest returns.
The 2012-2013 State Budget must focus on:
More efficient taxation
Strengthening our cities and regions
Greening the built environment.
Government investment in streamlining our planning and development assessment processes will make us more competitive with other states and encourage the return of private sector investment in Queensland.
Delivery of major projects, critical infrastructure and affordable housing are central tenets of the Property Council’s submission, which focuses on investment for the future of our state, rather than revenue-raising to pay today’s bills.
The property industry is the biggest private sector contributor- and one of the four pillars- of Queensland’s economy.
Government investment in the property industry will strengthen our economy and provide the jobs, wages, housing and infrastructure our communities need to support and maintain our state’s enviable lifestyle.
The Property Council will work with the Queensland Government to deliver a Budget that invests in the future of our state, rather than succumbing to the temptation of implementing short-term, punitive revenue-raising measures.