Agreement to take limited part in national stamp duty rewrite

14/7/96

Finance Minister Max Evans announced today that the State Government had agreed to participate in a limited way in the stamp duty rewrite exercise now under way across Australia.

Mr Evans said that Western Australia's involvement would initially be limited to officers of the State Revenue Department participating in the development of the acquisitions duty module of the rewrite.

The Government would then consider whether the model developed was appropriate to meet the needs of both business and Government in this State.

There would be no formal involvement in the other modules of the rewrite exercise at this time.

However, the Government would examine the broader rewrite legislation to see whether parts of it could be used to improve the operation of stamp duty in WA in the future.

Mr Evans said that while it was hoped that this exercise would improve the operation of the State's taxation system, it would not deal with the real problems of the balance of the taxing powers between the States and the Commonwealth.

"We need to develop a more fundamental solution to address the narrow and inefficient revenue base available to the States," Mr Evans said.

Media contact: Hugh Ryan 481 3244