ESL hikes more pain for property owners
The Property Council of Australia has declared a mooted hike in the Emergency Services Levy in the upcoming budget as more pain for property owners.
“South Australian property owners are already overburdened when it comes to paying their fair share of taxes,” said SA Executive Director Daniel Gannon.
“Only last year the State Government announced a 9 per cent ESL hike, which meant for a metropolitan residential property worth $426,400, a $23 per annum increase.
“A metropolitan commercial property worth $1.5 million copped a 10 per cent increase of $187, while industrial properties were slugged with an additional $178.
“And now we’re seeing more ESL pain for property owners.
“The property sector contributed approximately $3.6 billion in combined State Government tax revenues and local government rates, fees and charges revenue in 2013-14.
“This equates to 56.6% of total State taxes and local government rates, fees and charges revenues in 2013-14.
“The property sector is clearly seen as a cash cow by the Government. We are very concerned that the upcoming budget will result in more pain for industrial, commercial and retail property owners who are so key in driving economic growth in the state.
“It’s just not fair for overburdened property owners to be confronted with increasing and spiraling charges on top of already anticompetitive land tax and Council rate regimes in this state.”