Property boosts state tax revenue

THE state government last week released a treasury report showing an operating surplus of $295 million in the September quarter, down from $518 million last year, largely attributed to the omission of land tax revenue. A like-for-like comparison showed conveyance duty revenue increased 58 per cent to $541 million, which treasury said was due to the impact of sustained property market activity. Payroll tax revenue was up 20 per cent to $399 million and royalty income was up 25 per cent to $341 million.

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