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Legislative Assembly for the ACT: 2003 Week 12 Hansard (20 November) . . Page.. 4470 ..

(2) Please detail exactly how much has been spent with each particular news agency in relation to the above (i.e. radio stations, The Chronicle, The Canberra Times, television).

Mr Stanhope

: The answer to the member's question is as follows:

(1) Based on invoices processed to 29 September 2003 a total of $300,046 has been spent on such advertisements.

(2) This amount comprises:

Press

$

The Canberra Times

235,033

The Chronicle

41,926

Valley View

9,818

Radio**

FM106.3

1,704

FM104.7

1,688

2CC

355

2CA

355

Television**

Southern Cross Ten

2,957

Prime

2,956

Win

3,254

** Relates to the Bushfire Awareness Campaign

Development incentives

(Question No 990)

Mr Cornwell asked the Minister for Planning, upon notice:

Regarding the suggested incentives that could be offered to developers in the Draft City West Master Plan as listed in your media release dated 19 September 2003 entitled 'Revitalisation incentives possible to redevelop ageing City buildings':

(1) If the once-only waiver of stamp duty for the sale or sublease of residential units individually valued at less than $350,000 is applied, how will the Government ensure that this waiver will be reflected in the sale price of the unit to the buyer, rather than simply allowing for the developer to make an increased profit from the sale; and

(2) Similarly, how will the Government ensure that the waiver of development application fees for proposed developments in City West are reflected in the sale price of the development once the project is completed, rather than simply allowing for the developer to make an increased profit from the sale.

Mr Corbell

: The answer to the member's question is as follows:

(1) Stamp duty is payable at the time of settlement of a property. Hence, the waiver of stamp duty will provide savings to buyers, rather than to developers. Since the stamp duty waiver applies to units valued at less than $350,000, developers will be encouraged to increase the supply of these units to meet the increased demand from buyers wishing to take advantage of the waiver; and

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