ACT Treasurer Andrew Barr on Mon 7.5.2012, issued the ACT Taxation Review and the ACT Government’s in-principle response to the Review.
The ACT Taxation Review was commissioned by the ACT Government after the release of the Henry Review which highlighted the need for the ACT to review its taxation settings to put it in a stronger position to respond to Commonwealth reform.
Mr Barr said the Review Panel confirmed “that, when considered in context, the ACT is not a high taxing jurisdiction”. However, he said the Review Panel did find that there were risks to the long-term sustainability of the ACT’s revenue and that “major taxation measures are volatile, unfair and unsustainable”.
The ACT Treasurer said the Government broadly accepts the Review’s recommendations – agreeing to 15 recommendations, providing in-principle support to 14 recommendations, noting 1 recommendation, and not agreeing with 1 recommendation. Mr Barr said he intends to hold a number of roundtables to seek the community’s views on tax reform. The roundtables will be held on 14 and 16 May, 25 June and 23 July – topics will include tax reform to improve housing affordability and enhance business development. Comments can also be emailed to: taxreform@act.gov.au.
The Review and the Government’s response to the Review are available on the ACT Treasury website.
Source: ACT Treasurer’s media release, 7 May 2012
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