Opposition to growth tax
By Bridie Byrne
30th June 2009 11:05:16 AM
THE State Opposition has sought a Parliamentary inquiry into the controversial land rezoning tax.
Recent changes to the Urban Growth Boundary hinge on Parliament passing the $95,000 per hectare Growth Areas Infrastructure Contribution (GAIC). The GAIC will only apply to landowners that sell or subdivide their rezoned farming land.
It will be backdated to 2 December last year leaving some farmers already in debt.
The State Government will reap $2 billion in new tax revenue over the next 20 years from landowners to pay for new services to meet growing demand.