PROPERTY Council executive director Joe Lenzo has criticised the State Government for relying on a high number of property transactions to fund essential services.
The increase of $109 million stamp duty tax in 2003 follows $28 million in land tax increases in 2001 and $57 million in stamp duty increases in 2002.
Mr Lenzo said property taxes were currently 30 per cent of the overall taxation revenue and any further increase would place excessive reliance on property taxes for government revenue.
“The irresponsible tax slug on all WA property owners is unsustainable,” he said.
Housing Industry Association executive director John Dastlik said that from an industry perspective it was frustrating that the property industry was an ongoing target for tax hikes.
He said the increases had the potential to effect an industry downturn.
“A 15 per cent increase in rates on top of a similar increase last year from our view is outrageous,” Mr Dastlik said.
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