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Tax Reform

  • August 29, 2017

It’s often forgotten that a decisive initiative which allowed John Howard to pursue national tax reform in the late 1990s was the joint push from business and the community sector.

Well, we’re at it again.

Yesterday the Property Council took part in a tax reform summit jointly organised by the Business Coalition for Tax Reform (we are a long-term member) and the Australian Council of Social Services.

The purpose of the forum was to share views, swap perspectives and search for areas of common interest free of politicians or media.

And while there are things the two sides don’t agree on, there’s plenty of areas where we do. Most importantly, the clear message to political leaders was that tax reform at federal and state levels is vital and needs to be tackled. This will be a key advocacy priority for the industry for 2015.

To all our members, thank you once again for your support in 2014. I would like to wish you and your families a safe and enjoyable festive break. See you in 2015.

 

Tax ReformTax reform has been a hot topic over the last several weeks across Australia. The Federal Government is in the process of reviewing commonwealth tax legislation.Reducing or eliminating taxes with the highest cost to economic growth should be the Commonwealth’s top priority to ensure that Australia continues to be competitive. We are fortunate in the Territory to not have Land Tax and the negative impact such a tax has on the cost of living for Territorians. There are a few instances in which the Northern Territory has a competitive advantage over every other state and territory and the taxes on property are one. This advantage should help continue to encourage investment in the Territory over the next several years.