South Australia 2015-16 Pre-Budget Submission
A competitive taxation system coupled with prudent fiscal reform is vital to a healthy and growing economy. It is also essential to attracting global capital and encouraging domestic investment in property. An efficient and equitable taxation framework will enhance community wealth and prosperity, strengthening the revenue base for future generations. Equally, efficient expenditure will also deliver a sustainable budgetary position.
We have taken a targeted approach in our submission, with a focus on two main areas:
- Priority expenditure and investment; and,
- Tax reform.
The Property Council supports the establishment of an independent infrastructure body, implementation of planning reform and tax reform. With the economy transitioning away from traditional manufacturing and a decline in mining, we believe it’s time for South Australia to begin to further progress diversifying the economy to ensure future prosperity and job creation.
This submission provides the State Government with a series of recommendations that have the potential to increase economic growth. It is now time for the Government to fund and implement reforms to improve our state’s efficiency, performance and productivity.