Budget ends state taxes

Friday 12th May 2000

Australia's "safe" budget will provide the confidence required by property investors across the Tasman to see beyond a turbulent 2000, according to CB Richard Ellis.

The biggest bonus for the industry was the treasurers' indication this was the beginning of the end for state-based taxes, including those on real estate.

Starting with the abolition of the Sydney bed tax, there is real potential to remove long-standing state taxes which discourage property investment and trading.

Bill Chillington, chief operating officer for CB Richard Ellis Australia New Zealand, said the underlying fundamentals of the Australian market were sound as office rents were still heading up, vacancy was either low and stable or declining, and outside Sydney there was little forecast construction activity to upset this trend.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Sky continues sports drive with extension to netball rights
Apple's asset-shuffling puts $270m value on PowerbyProxi
Fonterra lifts payout forecast on improving global dairy prices
22nd October 2019 Morning Report
NZ dollar hovers near 64 US cents in favourable risk environment
Broader review powers eyed for Climate Change Commission
MARKET CLOSE: NZ shares edge lower as global ructions weigh; Tourism Holdings sinks
NZ dollar rises as markets bet on US interest rate cut
Fonterra seeks further changes to dairy act
Tilt, Oji say transmission changes may discourage new generation