Page 3156 - Week 09 - Thursday, 13 October 2022
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concessions is published annually in the ACT Tax Expenditure Statement. Total revenue foregone on general rates and the Fire and Emergency Services levy due to concessions is:
(a) 2019-20 –$38.657 million.
(b) 2020-21 – $52.158 million.
(c) 2021-22 – these figures are not yet available as the 2021-22 Tax Expenditure Statement has not been released.
(6) There were:
(a) 407 deferrals of general rate payments in 2019-20.
(b) 461 deferrals of general rate payments in 2020-21.
(c) 502 deferrals of general rate payments in 2021-22.
(7) Revenue deferred is not foregone as it is payable at an agreed time in the future. Revenue deferred in respect of general rates is:
(a) 2019-20 – $3.69 million.
(b) 2020-21 – $3.85 million.
(c) 2021-22 – $4.84 million.
(8) In 2021-22, the mean and median land tax assessed for all ACT dwellings (houses and units) by AUV follows:
|
AUV ($) |
Mean land tax ($) |
Median land tax ($) |
|
(a) $300k-600k |
$4,148 |
$4,026 |
|
(b) $600k-1m |
$7,205 |
$7,466 |
|
(c) $1m-1.8m |
$11,610 |
$12,066 |
|
(d) $1.8-2.5m |
$22,850 |
$22,107 |
|
(e) $2.5m+ |
$35,572 |
$36,440 |
(9) In 2021-22, the number of dwellings (houses and units) assessed for land tax in the ACT by AUV follows:
|
AUV ($) thresholds |
Number of dwellings |
|
(a) $300k-600k |
12,502 |
|
(b) $600k-1m |
2,485 |
|
(c) $1m-1.8m |
412 |
|
(d) $1.8-2.5m |
22 |
|
(e) $2.5m+ |
25 |
(10) Treasury takes into account a variety of factors when assessing the merits of alternative taxes including whether a tax is equitable (applies equally to taxpayers in similar circumstances and reflects the capacity to pay of taxpayers in different circumstances), efficient (minimises distortions to economic activity) and simple (predictable and easy to comply with).
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