REIWA wants tax relief
THE Real Estate Institute of Western Australia is lobbying the State Government to ensure that any extra tax revenue received from the Federal Government should be used to help first homebuyers and attract investment to WA.
REIWA president Jim Henneberry said it was time for genuine tax reform in WA and the State Government must not let the community down.
Mr Henneberry said there was a huge expectation in the Western Australian community for tax relief, particularly from the high rates of stamp duty on property purchases. He said the State Government finally had the opportunity to reform State taxes in a sustainable manner, rather than “slugging” home buyers and investors.
“It is a scandal that most first homebuyers are slugged around $8,000 stamp duty just for buying their first home,” Mr Henneberry said.
“And it is inexplicable that WA should have the highest marginal rate of stamp duty, much higher than the bigger States, which is a disincentive to business wanting to invest and create economic activity in the State.”
Mr Henneberry said REIWA would lobby Federal authorities to ensure that WA received a fair deal from the national GST carve-up.
According to REIWA figures, taxes on individuals and businesses buying and selling property in WA represents over 40 per cent of all the taxes levied on the community.
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