WA Treasurer Eric Ripper today released the interim state tax review report and encouraged people to have their say on the findings.
WA Treasurer Eric Ripper today released the interim state tax review report and encouraged people to have their say on the findings.
Preliminary advice from the interim report contributed to the government's handling of tax issues in last month's state budget
Mr Ripper said the State Tax Review aimed to provide genuine, aggregate tax cuts balanced against the community's demands for services, infrastructure and responsible financial management, and public sector wage outcomes," he said.
"The interim report summarises and analyses the issues raised in the 136 submissions provided to the State Tax Review. Further discussion in the reference and technical group meetings informed the report, contributing to mature debate on our tax system."
Issues highlighted for further examination include:
- priorities for reductions in various State taxes, particularly property, motor vehicle and insurance stamp duties, payroll tax and land tax;
- realistic mechanisms to address bracket creep through either tax scale design and/or indexation;
- stamp duties being calculated on GST exclusive prices; and
- deferral options for the payment of land tax liabilities on holiday homes.
The State Tax Review also included the rewrite of the Stamp Act. A parallel process would bring this major taxing statute into the modern business environment. All other State tax legislation had been reformed and rewritten since 2001.
The public have until August 31 to comment on the interim report. A final report is expected in 2007 for consideration in future budgets.
THE FULL MEDIA RELEASE APPEARS BELOW.
Treasurer releases State Tax Review Interim Report.
Treasurer Eric Ripper today encouraged Western Australians to have their say on the Interim Report of the State Tax Review.
Mr Ripper said the State Tax Review aimed to provide genuine, aggregate tax cuts balanced against the community's demands for services, infrastructure and responsible financial management, and public sector wage outcomes.
Preliminary advice on the interim report's findings contributed to the Government's decision to announce $1.2billion worth of tax cuts in last month's State Budget, including the staged abolition of three taxes.
"Improvements to our tax system have to be considered in a broad context, not simply focused on one sector or issue," the Treasurer said.
"The interim report summarises and analyses the issues raised in the 136 submissions provided to the State Tax Review. Further discussion in the reference and technical group meetings informed the report, contributing to mature debate on our tax system.
"The report includes many recommendations and I encourage Western Australians to read it and play an active role in developing the Government's priorities for tax reform over the next five years."
Issues highlighted for further examination include:
- priorities for reductions in various State taxes, particularly property, motor vehicle and insurance stamp duties, payroll tax and land tax;
- realistic mechanisms to address bracket creep through either tax scale design and/or indexation;
- stamp duties being calculated on GST exclusive prices; and
- deferral options for the payment of land tax liabilities on holiday homes.
Mr Ripper said the interim report included some ideas that the Government would never support, such as the introduction of a State personal income tax, a broader based or higher rate GST, or a new wealth tax.
The State Tax Review also included the rewrite of the Stamp Act. A parallel process would bring this major taxing statute into the modern business environment. All other State tax legislation had been reformed and rewritten since 2001.
The Treasurer thanked all the reference group members and technical committee members and chairperson Jonathan Ilbery, for their time and effort in helping develop the interim report.
The public have until August 31 to comment on the interim report. A final report is expected in 2007 for consideration in future budgets.
The interim report and details on how to comment on it are available at http://www.statetaxreview.wa.gov.au
