THE City of Perth’s contribution to government coffers is often overlooked, according to a report on the economic profile of the city undertaken by the City of Perth in conjunction with the Property Council in WA.
The Capital Perth report shows about $2.2 billion in taxation revenue is generated from the city by businesses, individual wages and property conveyance fees and transfers.
Of this, the Commonwealth Government takes most – almost $2 billion. The WA Government gets a windfall of a further $200 million while the City of Perth collects $61 million in taxes.
PCA CEO Joe Lenzo said the council would use the report to show the State and Federal governments that central Perth should not be neglected.
“The political debate has focussed on regions at the exclusion of the central city,” Mr Lenzo said.
“We must address this imbalance.
“It is time that the political focus moved from the regions to recognise the importance of central Perth. This report clearly shows how vital Perth is as a social and economic hub that is a large contributor to our economy, yet it is in danger of neglect.”
Property Council in WA president Tony Packer said there was $17.5 billion worth of property in the city.
The city also generated $4.4 billion in wages while businesses had the highest growth rate in Australia.
The report shows that Perth is characterised by a concentration of high-income employment with almost 35 per cent of revenue generated in the central city from wages greater than $1,500 a week.
“In fact, almost three-quarters of all jobs in central Perth pay more than $750,” the report said.
