Pre-Budget Submission
The Property Council has called on the Queensland Government to adopt budget measures aimed at enabling the property industry to continue to unlock economic activity and create jobs.
In a pre-State Budget submission, the Property Council has highlighted that the property sector already pays a disproportionate level of total taxes, fees and charges and called on the Government to abandon planned property tax increases.
Within the submission, the Property Council has called on the Government to undertake the following actions through the 2018-2019 Queensland Budget:
- Abandon the proposed Land Tax increase
- Abandon the proposed Additional Foreign Acquirer Duty
- Undertake a full review of the taxation settings that impact property
- Identify and release underutilised Government land
- Support establishing the Build-to-Rent sector in Queensland
- Streamline the Market-Led Proposals framework
- Explore opportunities to lease Government assets and reinvest the funds in productivity generating assets
- Consolidate the overlapping local government grant programs
- Support the implementation of the ShapingSEQ South East Queensland Regional Plan 2017
- Establish a rolling $200m regional infrastructure fund
- Retain the first Home Buyers’ Grant
- Deliver and implement the NQRP
- Finalise Strata Reforms
The Property Council’s full pre-budget submission can be accessed below.
The Queensland Budget will be delivered on 12 June 2018.