Property Council welcomes radical tax reform

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Property Council welcomes radical tax reformThe Property Council of Australia (SA Division) welcomes today’s news that the State Government will undertake radical tax reform. “The Property Council has long campaigned for a comprehensive overhaul of the state’s tax system,” said SA Executive Director of the Property Council Daniel Gannon. “SA’s tax regime is the worst in the nation – it’s time to wave goodbye to this unwelcome label. “That’s why it’s time to take the axe to this anti-growth tax. It discourages investment and job creation in SA, as well as discouraging older South Australians from down-sizing. “That’s why the State Government must rigorously pursue its radical tax agenda and absolutely ensure that “nothing is out of bounds, be it taxes, levies or concessions.” “A recent ANZ/Property Council confidence survey revealed that SA’s property sector confidence dropped almost eight per cent in the March 2015 quarter – radical tax reform will help turn this around. “In order to become the most competitive state to do business in Australia, we need the right tax settings to cultivate an environment that encourages economic growth and job creation. “This will mean more affordable homes and stronger communities for South Australians. “However, the jury is out on whether statutory urban growth boundaries will positively assist with the provision of affordable housing choices. “At a time when the housing market is competitive at a national level, we need to ensure that South Australia’s housing market remains equally competitive.” Mr Gannon also welcomed the following: Ongoing growth in our vibrant state, complemented by a more open planning system.The establishment of a new body solely focussed on investment attraction, with job creation on its agenda. The development of the State’s relationship with South East Asia and beyond. The Property Council identifies this as an opportunity to explore closer alignment of our state’s time zone with this region. Affordable living in neighbourhoods, well supported by public transport and with opportunities to walk and cycle around our Adelaide. Highlighting international education as an important educational and economic driver in South Australia. “There’s been plenty of posturing in the past – following today’s news, we look forward to action. “The property and development sector wants to say goodbye to business as usual – and it’s great news that the State Government wants to do the same.”