Nahan promises tax cuts but can’t detail funding
The Liberal Party last week committed to $80 million worth of land and payroll tax cuts it said would put money in the pockets of 11,400 businesses and 20,000 property owners.
But Treasurer Mike Nahan declined to detail how it would be paid for without borrowing more money. He said the Liberals would detail measures to reduce Government spending closer to the election date.
He also committed to no new or raised taxes during the forthcoming term.
Dr Nahan, Premier Colin Barnett and Small Business Minister Sean L’Estrange unveiled the package, which also includes $4 million worth of small business technology grants, before a Chamber of Commerce and Industry breakfast. Under the payroll tax changes, the threshold would be raised from $850,000 to $900,000 from January 1, 2018, saving businesses $55 million over three years and exempting 400 employers from paying it altogether.
The existing land tax exemption threshold would be raised from $300,001 to $360,000 from July 1, 2018, a saving of about $300, which Dr Nahan said would go a long way for the selffunded retirees it was targeted at.
CCI WA welcomed the pledges, saying the payroll tax gift would create 450 jobs in “mum and dad businesses” and save property owners up to $7 million.
But it came under fire from shadow treasurer Ben Wyatt, who accused it of staying silent during three steep increases to land tax under the Barnett Government.
Treasurer Mike Nahan at the Chamber of Commerce and Industry breakfast last week.