Property Council Interim Executive Director ACT Gino Luglietti called for more equitable tax distribution, highlighting the sector’s significant contribution to date.
“Property is powering the ACT, pumping nearly $800 million into the ACT’s coffers in 2021-22 – around 45 per cent of the total tax haul,” Mr Luglietti said.
“The next government needs to get serious about spreading the tax burden more fairly. The property industry can’t keep being the cash cow footing the bill for everyone else,” he said.
Mr Luglietti said the Property Council’s Election Platform, unveiled last week, laid out bold recommendations to future-proof the ACT economy.
“We’re calling for a 10-year employment land strategy, a cap on commercial rates linked to CPI, and a plan to fix the chronic labour shortage,” Mr Luglietti said.
“We also want to see the Government make more strategic use of Lease Variation Charges (LVC) – to drive real planning and zoning reforms, not just as a revenue tool.
“And let’s reinvest local funds back into our communities, creating assets and infrastructure that will benefit the people of the ACT. It’s time for a smarter, fairer approach.
“The ACT Government needs to stop milking the property sector and start thinking about the long-term health of our economy. The future of our city depends on it,” Mr Luglietti said.
The Property Council of Australia will host a debate between ACT Chief Minister Andrew Barr and Opposition Leader Elizabeth Lee on 16 October 2024, three days before the Territory election.
