Keep WA Growing Through State Budget Reforms

Keep WA Growing Through State Budget ReformsThe Property Council of Australia has outlined a plan for the property industry to maintain WA’s strong economic growth performance through strategic state Budget initiatives.”In order for the WA economy to keep growing as mining investment declines, we need fairer property taxes; more funding for city planning and infrastructure delivery; and less red-tape when doing property development”, said WA Executive Director of the Property Council, Joe Lenzo.”The property industry can be the key driver of state growth into the future because it’s the largest employer and contributes 33% of local and state revenue.””Our top 10 recommendations for the 2015-16 WA Budget are:No increases in property taxes.Engage with the national tax reform process to achieve long term state tax reforms;Strategic reforms of WA’s antiquated land tax and stamp duty systems;Conduct a state tax review;Fund the development of a long-term, 20 year State infrastructure strategy;Reformat the reporting of the government’s asset investment program;Develop a framework (process and guidelines) for unsolicited proposals from the private sector for government land and property assets to drive innovation;No expansion of the Perth parking licence area unless the licence fee is substantially lowered for the CBD and the new, lower levy is pegged to CPI;Support further de-regulation of the Retail Trading Hours Act 1987 by allowing all shops to open on Sunday at the same time as Saturday, at 8am; andApply reforms to energy competition in order to reduce costs in the property sector.””This year’s Budget is extremely important for WA because it coincides with a fading mining boom and a rare opportunity to work alongside a national tax reform process that hopefully will deliver opportunities to get rid of some of the worst state taxes like stamp duty”, said Mr Lenzo.For further comment:Joe Lenzo WA Executive Director Ph: 08 9426 1200 or 0419 044 768 Graham Hansen Communications & Policy Officer Ph: 08 9426 1200