Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

PCA attacks property tax

Staff Reporter 1 minute read

The Property Council of Australia (PCA) is calling for a cut to stamp duty as part of an overhaul of the state tax system.

According to The Australian Financial Review, the call follows reports that state governments were preparing for a property tax shortfall of $2 billion in 2008-09.

PCA chief executive Peter Verwer told the paper that financial pressure on state budgets from the property downturn was no surprise.

“It’s highlighted that state governments have become too addicted to inefficient and volatile property sectors.

“The lesson to be learnt from this is to reduce the dependence by reforming the taxes. The process may take several years... but it’s worth starting sooner rather than later because there will be dividends from tax reform,” Mr Verwer said.

Advertisement
Advertisement

Published: 05-11-08

Today's other news

Rate cut welcomed but banks slow to pass on

Allco succumbs to credit crisis

75bps rate cut solid result: HIA

PCA attacks property tax
default
TheAdviser logo
default

TODAY'S POLL

View results >

Who do you aggregate through?

Thank you for your vote, you can see the results here.

more from the adviser
court gavel ta Court rules against bank for ‘unfair’ loan terms

The Federal Court has declared a number of loan contracts entered...

APRA RBA ta RBA, APRA sing different tune on serviceability buffers

APRA chair Wayne Byres has dismissed the need for a cut to the bu...

loanapplication Remodelled FHB scheme cops backlash

From 1 July, all applications for the FHLDS will require a Notice...

FROM THE WEB