❓ The WA parliamentary question concerns the extension of land tax to principal places of residence held by companies and trusts, with the opposition questioning the impact on small business owners. The Treasurer defends the policy, stating it aligns with past practices and offers a simple solution for homeowners.
AnsweredQoN 428Legislative Assembly
QuestionView source ↗
LAND TAX, PRINCIPAL PLACES OF RESIDENCE HELD BY COMPANIES AND TRUSTS
I refer to the announcement in the budget that the Labor Government will extend the land tax base to principal places of residence held by companies and trusts. (1) Is the Treasurer aware that it is common banking practice for small business owners to place the family home in a trust or company structure to obtain business loans? (2) Will the Treasurer admit that from 1 July next year, thousands of homes owned and occupied by small business people and their families will be hit by another Gallop family home tax? (3) Will the Treasurer confirm that this new tax on the family home will be imposed regardless of the small business owners’ level of income or the value of the family homes? (4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER
I refer to the announcement in the budget that the Labor Government will extend the land tax base to principal places of residence held by companies and trusts. (1) Is the Treasurer aware that it is common banking practice for small business owners to place the family home in a trust or company structure to obtain business loans? (2) Will the Treasurer admit that from 1 July next year, thousands of homes owned and occupied by small business people and their families will be hit by another Gallop family home tax? (3) Will the Treasurer confirm that this new tax on the family home will be imposed regardless of the small business owners’ level of income or the value of the family homes? (4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER
AnswerView source ↗
(1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(1) Is the Treasurer aware that it is common banking practice for small business owners to place the family home in a trust or company structure to obtain business loans? (2) Will the Treasurer admit that from 1 July next year, thousands of homes owned and occupied by small business people and their families will be hit by another Gallop family home tax? (3) Will the Treasurer confirm that this new tax on the family home will be imposed regardless of the small business owners’ level of income or the value of the family homes? (4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(2) Will the Treasurer admit that from 1 July next year, thousands of homes owned and occupied by small business people and their families will be hit by another Gallop family home tax? (3) Will the Treasurer confirm that this new tax on the family home will be imposed regardless of the small business owners’ level of income or the value of the family homes? (4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(3) Will the Treasurer confirm that this new tax on the family home will be imposed regardless of the small business owners’ level of income or the value of the family homes? (4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(1) Is the Treasurer aware that it is common banking practice for small business owners to place the family home in a trust or company structure to obtain business loans? (2) Will the Treasurer admit that from 1 July next year, thousands of homes owned and occupied by small business people and their families will be hit by another Gallop family home tax? (3) Will the Treasurer confirm that this new tax on the family home will be imposed regardless of the small business owners’ level of income or the value of the family homes? (4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(2) Will the Treasurer admit that from 1 July next year, thousands of homes owned and occupied by small business people and their families will be hit by another Gallop family home tax? (3) Will the Treasurer confirm that this new tax on the family home will be imposed regardless of the small business owners’ level of income or the value of the family homes? (4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(3) Will the Treasurer confirm that this new tax on the family home will be imposed regardless of the small business owners’ level of income or the value of the family homes? (4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(4) Is this why the Premier yesterday refused to rule out the possibility of Labor taxing the family home from 1 July next year? Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
Mr RIPPER replied: (1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
(1)-(4) The Deputy Leader of the Opposition is scaremongering. This policy will return us to the situation that applied between 1989 and 1995 or 1996. Richard Court and his Government applied this measure in at least two financial years. Where were the members of the Opposition who think it is so scandalous at that time? Family home concessions should be available to families, and not to family trusts, companies or corporations. It is a simple matter for people wanting the family home concession to put the home into direct ownership. I have been advised that, provided there is no change in beneficial ownership, the stamp duty charge for making the change from indirect to direct ownership is about $20. We will return to the arrangement that applied in the early years of Richard Court’s Government whereby family home concessions are not available to trusts or corporations. We are aware that people can move to direct ownership with minimal stamp duty penalty.
Explore WA Government Data
Search the full archive in the free dashboard, or query programmatically via API.
Explore more
Government Gazette
Appointments, regulatory notices, planning changes.
Hansard
Debates, questions, speeches and sentiment.
Tabled Papers
Reports and documents tabled in Parliament.
Committees
Committee profiles and recent reports.
Regulations
Subsidiary legislation with filters and summaries.
Bills
Proposed laws and parliamentary progress.
Acts
Current WA legislation and summaries.
Explanatory Memoranda
Bills with EMs (text/PDF) available.
Members
MP profiles, party breakdown and rankings.
Pollie Rankings
Data-driven rankings across 19 categories.
Amendment Chains
Track how schemes and regulations evolve over time.