As a member of Executive Committee in one of residential unit complexes I have seen no additional value added by the ACT Government since the change has been introduced to maintain internal or adjoining footpaths or roads in exchange for increased Rates and Land Tax or other services. Mr Popov was asked about this when he appeared before the Committee in hearings of 13 June. In responding he told the Committee that: In my experience of having four properties and serving on executive committees—now on the second executive committee—I have not seen any substantial changes, basically, any extra services so far. Other contributors made comment on value for money and transparency in relation to rates and land tax. Mr Gary Barnes, in his submission to the inquiry, advised the Committee that: We want an open transparent explanation of the revenue collected in terms of the fixed amount per living dwelling and the rates and taxes on Unimproved value of the Land (not market value) and how this money is used (the services provided): and recognising that almost 50% of ACT revenue comes from Federal GST/Grants distribution and this is largely for State type functions like education and health. Other contributors made comment in similar terms. Contributors to the inquiry made comment statements by the ACT government stating that increases in rates and land tax would be offset by decreases in stamp duty. In his submission to the inquiry, Mr Gary Petherbridge advised the Committee that: In general I did not hear from the community that they objected to the Government’s plan to reduce (and eventually remove) Stamp Duty on Conveyancing and replace it with higher rates over a 20 year period. ‘However’, he advised the Committee, he did: hear concerns from the community including past executives of a past Labour Government that the Stamp Duty has hardly been reduced while the Rates and Land Tax have increased significantly and very quickly …
As a member of Executive Committee in one of residential unit complexes I have seen no additional value added by the ACT Government since the change has been introduced to maintain internal or adjoining footpaths or roads in exchange for increased Rates and Land Tax or other services. Mr Popov was asked about this when he appeared before the Committee in hearings of 13 June. In responding he told the Committee that: In my experience of having four properties and serving on executive committees—now on the second executive committee—I have not seen any substantial changes, basically, any extra services so far. Other contributors made comment on value for money and transparency in relation to rates and land tax. Mr Gary Barnes, in his submission to the inquiry, advised the Committee that: We want an open transparent explanation of the revenue collected in terms of the fixed amount per living dwelling and the rates and taxes on Unimproved value of the Land (not market value) and how this money is used (the services provided): and recognising that almost 50% of ACT revenue comes from Federal GST/Grants distribution and this is largely for State type functions like education and health. Other contributors made comment in similar terms. Contributors to the inquiry made comment statements by the ACT government stating that increases in rates and land tax would be offset by decreases in stamp duty. In his submission to the inquiry, Mr Gary Petherbridge advised the Committee that: In general I did not hear from the community that they objected to the Government’s plan to reduce (and eventually remove) Stamp Duty on Conveyancing and replace it with higher rates over a 20 year period. ‘However’, he advised the Committee, he did: hear concerns from the community including past executives of a past Labour Government that the Stamp Duty has hardly been reduced while the Rates and Land Tax have increased significantly and very quickly …
9th-PAC-04-Methodology-for-determining-rates-and-land-tax-in-strata-residences.docx