Sharechat Logo

Budget ends state taxes

Friday 12th May 2000

Text too small?

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.

  General Finance Advertising    

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:

IKE 1Q FY26 Performance Update
July 29th Morning Report
General Capital Annual Shareholders Meeting Results
MEE - Receivers and Liquidators appointed to King Honey
2 Cheap Cars Group Updates Performance Outlook for FY26
Spark announces Director changes as part of Board renewal
July 28th Morning Report
KMD Brands announces new Group Chief Financial Officer
Commerce Commission to issue SOI re Viridian application
FBU - Moody's affirms FBU Baa3/stable rating