07 March 2019
My question is to the Treasurer.
A Sandringham district resident, Jamie, is the director of a family company that owns a commercial property in Cheltenham.
The property is currently being rented by a motor vehicle service group.
The tax levied on this property has increased by over 260 per cent in the past three years, but the gross rental income received on this property has increased by less than 5 per cent in the same period.
In 2016 Jamie’s land tax bill was $12 625, approximately 5.5 per cent of gross rental income, but in 2019 Jamie’s land tax bill is a whopping $45 900, approximately 19 per cent of his estimated gross rental income.
Treasurer, what should Jamie do to combat the extraordinary increase in land tax he has experienced over the last three years under your government, and do you think this heavy burden on Jamie’s small business is fair?