Big end of town to feel the sting

SPECULATION of new and higher taxes has the WA business community, particularly those at the big end of town, seeing red.

Treasurer Eric Ripper’s comment that the tax burden would hit those who could “most afford to pay” also has led to speculation that a tax will be levied on homes worth more than $1 million.

Chamber of Commerce and Industry chief economist Nicky Cusworth said the business community was concerned.

“It appears there will be a heavier whack on business than was expected,” Ms Cusworth said.

“Labor promised to maintain WA’s tax competitiveness and it looks like they’ve broken their first promise.”

Small business groups were also concerned about proposed business tax rises.

Small Business Alliance spokeswoman Cheryl Thompson said many small business operators worked long hours for little reward and were not wealthy enough to be burdened with increased taxes.

However, she was encouraged by Mr Ripper’s assurances that small business would be insulated from any tax hikes.