11 January 2011

Is there more to business in Canberra than real estate speculation?

| johnboy
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The Liberals’ Brendan Smyth is very excitedby research from the Institute of Public Affairs which he says shows the ACT’s tax regime is comparatively unfriendly to business.

But what are the headline taxes?

— land taxes in the ACT are 38 per cent above the state/territory average; and
— land transfer duties are 10 per cent above the state/territory average.

So we’re clipping the tickets of real estate speculators? Great.

Having actually started businesses I can say that the registrar of business names is reasonably functional and not particularly onerous.

We already know that regulatory inspections are virtually non-existent in the ACT, the rest of the compliance problem is Commonwealth, so what’s Brendan moaning about?

More to the point what taxes does he want to raise or services to cut if he wants to help out the real estate speculators?

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And anyone besides the Liberal Party takes any notice if the IPA?

The cat did it11:37 pm 11 Jan 11

Another self-serving publicity-seeking effort from the shameless shills of the IPA. Of course, business never gets any benefit from the potential employees whose education may be funded by these taxes, or the infrastructure these taxes might fund. Selective analysis, like considering costs without considering benefits, is great for a quick piece of publicity, as long as no-one looks too closely at it.

amarooresident36:08 pm 11 Jan 11

Colour me shocked – Brendan agrees with the IPA.

On a more serious note, having glanced quickly at the report, the “reference business” they have used as the comparitive model is highly untypical of most ACT businesses I would have thought. Most businesses in the ACT would not pay any where near the levels suggested by the IPA, and if they do they need to get a better accountant.

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