The Queensland state budget has largely been welcomed by the Property Council of Australia, although there are concerns over housing.
The Australian property industry in Queensland will again pay more than its fair share of tax, according to the Property Council of Australia.
In its assessment of the state budget, the body welcomed most of the plans, particularly the commitment to infrastructure investment which it said shows the government's recognition of the importance this plays in the property sector.
"However we are disappointed that the state has decided to continue the disproportionate tax load carried by the Queensland property industry," commented the body's executive director for the state, Steve Greenwood.
The Australian property sector in the state will be paying 20 per cent more in taxes than the mining industry in 2010-11, he added.
"It is clear that the property sector really does the heavy lifting when it comes to tax in Queensland," Mr Greenwood said.
The budget failed to deliver on two key points regarding tax rises, the council said, with its calls for the abolishment of the 0.5 per cent land tax surcharge also ignored.
Posted by Craig Francis
The Australian property industry in Queensland will again pay more than its fair share of tax, according to the Property Council of Australia.
In its assessment of the state budget, the body welcomed most of the plans, particularly the commitment to infrastructure investment which it said shows the government's recognition of the importance this plays in the property sector.
"However we are disappointed that the state has decided to continue the disproportionate tax load carried by the Queensland property industry," commented the body's executive director for the state, Steve Greenwood.
The Australian property sector in the state will be paying 20 per cent more in taxes than the mining industry in 2010-11, he added.
"It is clear that the property sector really does the heavy lifting when it comes to tax in Queensland," Mr Greenwood said.
The budget failed to deliver on two key points regarding tax rises, the council said, with its calls for the abolishment of the 0.5 per cent land tax surcharge also ignored.
Posted by Craig Francis
