Page 2617 - Week 07 - Tuesday, 5 June 2012
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This reform alone gives the ACT the simplest and most competitive payroll tax system for small to medium enterprises, an important part of our economy.
Rates
Canberrans understand that tax changes like the ones I have announced need to be paid for.
The overall aim is not to reduce the money the Government invests in services for Canberrans, but to move away from inefficient and regressive taxes and focus on fairer, progressive revenue sources.
That is why today I announce important changes to the general rates regime.
These changes do not alter the fundamental premise on which rates have always been collected – linking rates charged to the value of land.
However, these reforms make the system more progressive.
We will be introducing a series of progressive marginal tax rates to replace the existing flat valuation based charge. The fixed charge paid by all Canberra households will remain the same at $555.
Under the new scale, rates will decrease for around a quarter of properties. The average increase will be $123 per year or $2.35 a week. This will be offset by the reductions in insurance costs, stamp duty and rents I outlined earlier.
ACT Labor believes this is a fairer system.
Those with greater capacity pay a little more. Those with less capacity pay considerably less.
The most vulnerable get a helping hand in the form of targeted assistance and concessions.
A fairer Canberra
This Budget continues to fund programs and services for some of the neediest in our community, including Canberrans with disabilities, children and young people at risk, and older Canberrans.
We are investing $15.4 million over four years to support children and young people in out of home care – including those in residential, kinship and foster care.
We will create additional Care and Protection positions; at a cost of $5.3 million over four years and we will invest $5.5 million in new funding to respond to the Blueprint for Youth Justice.
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