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Western Australia’s households and business deserve a dividend
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Wednesday, 30 April 2008  
 
The booming Western Australian economy has delivered revenue windfall to the State’s treasury over a number of years. The Institute of Chartered Accountants in Australia (the Institute) believes it is time for the Government to return a dividend to households and business to enable all to share in the State’s prosperity. 
 
Western Australians have waited patiently throughout a two year State Tax Review where a chorus of industry and professional groups have called for relief across the major tax takes. 
 
Specifically, the Institute seeks reform across the following issues:

  • Conveyancing stamp duty: the current thresholds and rates would benefit from both simplification and equity, recognising the substantial increase in median house prices over recent years and the impact this has had on the duty paid by families
  • Payroll tax: revision of the threshold and percentage rate to benefit Western Australia businesses, especially the growing small/medium size enterprises
  • Motor vehicles: returning the rate scales to the 2002 level and delivering further tax relief to families.
 
The Institute continues to encourage the Government to consider these issues in the 2008-2009 State Budget, scheduled to be delivered on Thursday 8 May and hand back part of the proceeds of the boom as a dividend to all Western Australian households and businesses.  
 
Con Abbott, Western Australia General Manger for the Institute, said, “The areas of conveyancing stamp duty, payroll tax and motor vehicles are the three areas that have the greatest aggregate impact on taxpayers and relief in the form of reductions in the tax take is fair and reasonable.” 
 
“We continue to work with Government and other industry bodies to ensure that needs of all Western Australians are met,” he added.