Land tax re­form put in spot­light ahead of State poll

Pilbara News - - Election 2017 -

Prop­erty Coun­cil WA is urg­ing both sides in the up­com­ing State elec­tion to re­duce the top mar­ginal rate of land tax in line with other States com­pet­ing for the in­vest­ment dol­lar.

Land tax was com­pound­ing prob­lems ex­pe­ri­enced by build­ing own­ers who al­ready had to con­tend with the high­est of­fice va­cancy rates — 25 per cent plus — for 20 years, Prop­erty Coun­cil WA ex­ec­u­tive di­rec­tor Lino Ia­comella said.

“If the prop­erty sec­tor is to drive the WA econ­omy post-min­ing boom, these ar­du­ous taxes must be re­formed to al­low the prop­erty in­dus­try to keep WA grow­ing,” she said.

“The top mar­ginal rate of land tax in WA, 2.67 per cent, is the sec­ond high­est in Aus­tralia,” he said, com­pared with NSW and Queens­land (top rates 2 per cent) and Vic­to­ria (2.25 per cent).

He said the sit­u­a­tion was ex­ac­er­bated for CBD land­lords who also had to pay an ex­tra 0.14 per cent Metropoli­tan Re­gional Im­prove­ment Tax.

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