Page 4923 - Week 13 - Thursday, 28 November 2019
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(4) In relation to part (2), of the number of (a) individuals, (b) businesses or corporations, or (c) other entities, that have paid land tax in each of the last five financial years to date, how many own (i) one, (ii) two, (iii) three, (iv) four, (v) five or more, properties.
(5) What is the total number of properties broken down by type that attracted the foreign investor surcharge each financial year since commencement to date.
(6) What is the total number of (a) individuals, (b) businesses or corporations, or (c) other entities, that have paid the foreign investor surcharge each financial year since commencement to date broken down by the (i) owner’s principal country of residence, (ii) place of incorporation or (iii) other, including (A) Mainland China, (B) Hong Kong, (C) Singapore, (D) New Zealand and (E) any other country.
(7) In relation to part (6), of the number of (a) individuals, (b) businesses or corporations or (c) other entities, that have paid the foreign investor surcharge each financial year since commencement to date, how many own (i) one, (ii) two, (iii) three, (iv) four, (v) five or more, properties.
(8) What is the total value of revenue received through the foreign investor surcharge each financial year since commencement to date.
Ms Berry: The answer to the member’s question is as follows:
(1) The total number of land taxable properties for each of the last five financial years to date are:
|
Financial Year |
Land Taxable Houses |
Land Taxable Units |
Total Residential Land Taxable Properties |
|
2014-15 |
18,347 |
23,423 |
41,770 |
|
2015-16 |
18,778 |
25,286 |
44,064 |
|
2016-17 |
19,058 |
25,944 |
45,002 |
|
2017-18 |
19,288 |
27,632 |
46,920 |
|
2018-19 |
19,508 |
28,702 |
48,210 |
|
First quarter 2019-20 |
18,143 |
26,812 |
44,955 |
Note: The annual 2019-20 figures is expected to be higher than reported in first quarter following billing adjustments and compliance assessments.
(2) The Revenue Office is not able to provide this information. The property billing system for land tax does not identify the type of entity that owns the property.
(3) and (4) The ACT Revenue Office is not able to provide this information. Either the Revenue Office does not collect the information as it is not necessary for taxation purposes or where the information is held, it is retained in a manner that does not allow for collation, matching and presentation with a high degree of confidence in the form that has been requested.
(5) and (8) The Foreign Ownership Surcharge is levied quarterly. The following are the totals per quarter:
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