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Did you feel the pain of the State Government’s land tax hike?

Another recent article I read on the members section of website that got me thinking about all this tax rate rises that are happening of late.

Aren’t we paying enough already for everything we need or want? I can certainly understand how some families struggle and these constant rises definitely don’t help the low income earners or first home buyers.

This article shows that REIWA understands that reform is needed.

“Last week, many of you will have received your most recent land tax bills and, unfortunately, the land tax rates and thresholds have increased for the third year in a row. These changes were made in the May 2015 State budget and came as a surprise and shock to the property industry.

State tax reform, particularly of property taxes including land tax and stamp duty, is a key issue in REIWA’s advocacy agenda – and reform is needed.

This year when the Treasurer announced these further imposts on land tax, REIWA President (at the time) David Airey came out strongly opposing these changes and criticised the State Government for their reliance on the property industry to fix their budget woes.

As REIWA prepares for the next round of pre-budget submissions, we will continue the fight to remove any more reliance on the property industry to fix the state budget’s shortfall.

As you’d recall in our last pre-budget submission we called for a removal of stamp duty and a transition to a more equitable and transparent land tax regime, which does not adversely affect investors, as the current aggregation requirements do.

The State Government is due to release their mid-year fiscal outlook in mid-December, this will give industry a sense of where they see the economy going and provide some insight into their policy decisions in the lead up to the next State budget in May 2016.

Watch this space.”

What are your thoughts on this?