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Property Council starts GST revenue return push

THE Property Council has commenced a campaign to have excess GST revenues returned to WA taxpayers through property tax relief in a campaign that will intensify next year in the lead up to the 2005 State election.

Figures recently released by the Treasurer Peter Costello reveal that the States are to receive a multi-million tax windfall in GST revenues in the coming years.

The Western Australian Government will receive more than $230 million from GST over the next two years than it would have under the old tax system.

The WA Government will receive more than the guaranteed minimum GST forecast amounts of $74.2 million in 2003-04, $139.3 million in 2004-05, $100.7 million in 2005-06 and $197.0 million in 2006-07.

Property Council executive director Joe Lenzo said that GST revenues should be delivered in tax cuts to WA businesses and the community.

Mr Lenzo said that, after hitting WA businesses with huge tax slugs over the last three budgets, the Government should return GST revenues through property tax cuts.

“Stamp duty cuts are the priority – the rates should be reduced to what they were before the increases in last year’s budget,” he said.

“The Gallop Government is crying poor while pocketing millions of dollars in GST revenues.”

Mr Lenzo said tax cuts using these GST revenues would deliver more development and investment into WA, creating more jobs and opportunities for Western Australians.

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