Page 5313 - Week 16 - Thursday, 28 November 1991
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APPENDIX 1:
(Incorporated in Hansard on 26 November 1991 at page 4871)
CHIEF MINISTER FOR. THE AUSTRALIAN CAPITAL TERRITORY
LEGISLATIVE ASSEMBLY QUESTION
QUESTION WITHOUT NOTICE
21 NOVEMBER 1991
MR KAINE: CHIEF MINISTER THROUGH ACTING CHIEF MINISTER. QUESTION ON THE. LAND TAX. WHAT IS THE REASON WHY THE NEW LAND TAX IS NOT BEING COLLECTED QUARTERLY THE SAME WAY AS THE RATES LEVY.
SUPPLEMENTARY: WOULD YOU MAKE A COMMITMENT TO FIND OUT WHAT THOSE EXTRA COSTS WILL BE AND BRING THOSE COSTS BACK TO THE ASSEMBLY.
MY ANSWER IS: THE ONE PERCENT LAND TAX ON RESIDENTIAL PROPERTIES OTHER THAN THE PRINCIPAL PLACE OF RESIDENCE OF AN OWNER IS NOT A NEW TAX BUT RATHER AN EXTENSION OF THE EXISTING LAND TAX BASE TO INCORPORATE PROPERTIES WHICH ARE CLEARLY COMMERCIAL IN NATURE. SUCH TAX IS PAID ANNUALLY RATHER THAN QUARTERLY AS IN THE CASE OF GENERAL RATES.
TIME PAYMENT ARRANGEMENTS ARE AVAILABLE: TO .LESSEES GENUINELY EXPERIENCING DIFFICULTY WITH MEETING LAND TAX PAYMENTS. SUCH LESSEES SHOULD CONTACT THE COMPLIANCE SECTIO14 OF THE ACT REVENUE OFFICE.
THE. COSTS OF PROVIDING AN INSTALMENT SCHWAB LAND TAX WHICH WOULD CLEARLY HAVE TO COVER ALL LAND ,TAXABLE PROPERTIES ARE SIGNIFICANT AND NOT ONLY INCLUDE THE COSTS ASSOCIATED WITH ADMINISTRATION OF SUCH A SCHEME BUT ALSO THE LOSS OF INVESTMENT INCOME.
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