❓ Hon. Anthony Spagnolo questions the Treasurer regarding the adequacy of $70 million in stamp duty relief for addressing downsizing constraints, given the significant increase in stamp duty revenue. The Treasurer's response defends the policy and accuses the member of attempting to reverse planning reform.
AnsweredQoN 152Legislative Council
QuestionView source ↗
Stamp duty relief
152. Hon Anthony Spagnolo to the parliamentary
secretary representing the Treasurer:
I refer to the
announcement this morning of expanded off-the-plan stamp duty concessions totalling
$70 million and to the more than $2 billion in additional stamp duty
revenue reported in the government's December budget update. Given the measure
returns roughly $1 for every $30 collected in additional tax revenue, I ask the
following.
(1) What modelling supports the Treasurer's
claim that $70 million is sufficient to address downsizing constraints in
the housing market?
(2) Will the Treasurer table the
modelling?
152. Hon Anthony Spagnolo to the parliamentary
secretary representing the Treasurer:
I refer to the
announcement this morning of expanded off-the-plan stamp duty concessions totalling
$70 million and to the more than $2 billion in additional stamp duty
revenue reported in the government's December budget update. Given the measure
returns roughly $1 for every $30 collected in additional tax revenue, I ask the
following.
(1) What modelling supports the Treasurer's
claim that $70 million is sufficient to address downsizing constraints in
the housing market?
(2) Will the Treasurer table the
modelling?
AnswerView source ↗
I thank the
honourable member for some notice of the question and provide the following
answer on behalf of the Treasurer.
(1)–(2) This morning's announcement is another
practical step by the WA Labor government to make home ownership more
achievable for more Western Australians, while at the same time driving the
housing supply our state urgently needs. These measures are supported by
industry. The minister is deeply concerned by the member's attempt to reverse
planning reform and put more red tape in the planning system.
honourable member for some notice of the question and provide the following
answer on behalf of the Treasurer.
(1)–(2) This morning's announcement is another
practical step by the WA Labor government to make home ownership more
achievable for more Western Australians, while at the same time driving the
housing supply our state urgently needs. These measures are supported by
industry. The minister is deeply concerned by the member's attempt to reverse
planning reform and put more red tape in the planning system.
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