❓ Mrs. Harvey asks the Premier to confirm if the stamp duty rebate is asset or income tested and the basis for the decision. The Premier confirms it is not and justifies the decision based on job creation in the construction sector.
AnsweredQoN 945Legislative Assembly
QuestionView source ↗
STATE ECONOMY —
STAMP DUTY REBATE
945. Mrs L.M. HARVEY to the Premier:
I refer to yesterday's
announcement on stamp duty relief. Can the Premier confirm that this rebate is
not asset or income tested; and, if so, what is the basis for this decision?
STAMP DUTY REBATE
945. Mrs L.M. HARVEY to the Premier:
I refer to yesterday's
announcement on stamp duty relief. Can the Premier confirm that this rebate is
not asset or income tested; and, if so, what is the basis for this decision?
AnswerView source ↗
The
basis of the decision is that we want to create jobs. I mean, the only people
complaining about the announcement is the Liberal Party. Members
opposite call on us to do something about tax relief, and, when we do, they
complain about it. We actually have real policies. The policy release yesterday
is all about ensuring that we get more jobs in the construction sector. The
announcement was widely welcomed, as I will discuss in a moment, by the
property sector. This is about ensuring that we get construction jobs and
activity in the property sector, particularly in the high employment generating
area, which is higher-density development that is multi-tiered. Yesterday, I went
to a property in the member for South Perth's
electorate. There is a lot of higher density living there; a lot of high-rise .
A lot of it is very well done, in my opinion. The development that I had a look
at yesterday by Stirling Capital was very well done. It is a $16 million or $17
million project, with 200 jobs as part of it. We want to bring more of that activity forward. We think it is a worthwhile
thing to do. Although the benefit to any investor or purchaser is capped at $50 000, it can apply to multiple properties across the board. The benefit
is capped at $50 000. It will run out at that level. If the value of the
property would ordinarily attract a duty significantly higher than that, it is
capped at $50 000. I know that is complex to understand, but most people will
get it.
basis of the decision is that we want to create jobs. I mean, the only people
complaining about the announcement is the Liberal Party. Members
opposite call on us to do something about tax relief, and, when we do, they
complain about it. We actually have real policies. The policy release yesterday
is all about ensuring that we get more jobs in the construction sector. The
announcement was widely welcomed, as I will discuss in a moment, by the
property sector. This is about ensuring that we get construction jobs and
activity in the property sector, particularly in the high employment generating
area, which is higher-density development that is multi-tiered. Yesterday, I went
to a property in the member for South Perth's
electorate. There is a lot of higher density living there; a lot of high-rise .
A lot of it is very well done, in my opinion. The development that I had a look
at yesterday by Stirling Capital was very well done. It is a $16 million or $17
million project, with 200 jobs as part of it. We want to bring more of that activity forward. We think it is a worthwhile
thing to do. Although the benefit to any investor or purchaser is capped at $50 000, it can apply to multiple properties across the board. The benefit
is capped at $50 000. It will run out at that level. If the value of the
property would ordinarily attract a duty significantly higher than that, it is
capped at $50 000. I know that is complex to understand, but most people will
get it.
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