The Property Council welcomed the Victorian Government’s recent announcement that it will release a position paper in June 2011 on the FSL, which will include the design features for the new property tax.
Upon the release of the position paper, the Property Council has been advised that the Victorian Government will consult with us and other stakeholders. The FSL legislation is intended to be presented to the Victorian Parliament in 2012 to pave the way for implementing the new property tax in 2013.
The Property Council has met with the Victorian Government on numerous times regarding the FSL. In late 2010, the Property Council and the Shopping Centre Council of Australia commissioned Geoff Carmody, one of Australia’s leading economists and tax experts, to prepare an analysis of the optimal principles to replace Victoria’s current FSL.
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Comment: This Government is acting on its promises. Great stuff!
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