Land Tax

The Hon. K.J. MAHER (Leader of the Opposition) (14:26): Supplementary arising from the original answer: will the Treasurer consider exemptions for certain sectors of business, such as businesses like retail centres owned by people like Harry Perks and his business associates who will have to pay much more land tax?

The Hon. R.I. LUCAS (Treasurer) (14:26): I am certainly not going to enter into the personal business or tax arrangements of individuals or businesses in a public forum. I will leave that to the honourable Leader of the Opposition if he wants to talk about the tax arrangements of individuals.

In relation to the current Land Tax Act and the proposed changes to the land tax bill, it doesn't make specific arrangements in relation to specific businesses or entities. It certainly exempts certain arrangements. In the Budget Statement I indicated that certain trusts, such as charitable trusts, guardianship trusts, complying superannuation funds and the like, were exempt in the other states and were likely to be exempt under the final drafting of the legislation the government brings down.

Given these questions and the interests, if I could briefly outline: the government, unlike other tax bills, has committed itself to public consultation on the final drafting of the bill, so a draft bill will go out for public consultation prior to introduction into the house. In my experience, in this chamber, that is unprecedented or virtually unprecedented. Most tax bills are introduced by governments of either persuasion into the house and then the debate begins. This government is committed, in relation to this particular proposed reform package, to put it out for public consultation. The Premier and I have both committed to listening, consulting and discussing the final shape of the government's proposal.

What will drive the government, however, will be that we are intent, from our land tax reform package, to actually collect less land tax than before. So the increase in the threshold, the reduction of the rate and the pace of the reduction of the rate will reduce our land tax by greater than whatever is to be collected from the new aggregation procedures. We have made that commitment and, in terms of the ongoing consultation and negotiation, the Premier and I, on behalf of the government, are committed to maintaining that particular commitment that, from our land tax reform package, we will collect less land tax than under the old arrangements.