Ms PURICK - 2012-05-01
In Budget Paper No 2, you announced you will be breaking your promise to remove stamp duty on non-real estate transactions. Why have you broken your promise? Does this mean you cannot be trusted by Territorians when you say you are going to relieve their cost of living burdens?
ANSWER
Madam Speaker, I welcome the question. The stamp duty commitment remains. We have literally deferred it. It is worth $8.7m ...
Members interjecting.
A member: Deferred it to the next term of government.
Madam SPEAKER: Order! Order!
Ms LAWRIE: They are a rabble. You might want to talk to Newman in Queensland; he is doing exactly the same thing. Liberal governments around the nation are doing exactly the same thing.
The final remaining stamp duty concession is worth $8.7m in revenue. If you want to strip it out, I will look forward to that in the budget response tomorrow by the Leader of the Opposition – lost revenue of $8.7m ...
Mr Tollner: You are the one who committed to it.
Madam SPEAKER: Order!
Ms LAWRIE: As I have already pointed out, that was part of a range of stamp duty transactional taxes to be removed as part of the GST coming in agreement. When the GST collections have dropped by $3.1bn in the 2011-12 financial year from projections back in the May federal budget of last year, it is appropriate to hold back that revenue cut. The GST is well below the guaranteed minimum agreement struck between the Commonwealth government and the states and territories at the time we agreed to give up those transactional taxes. We have one remaining transactional tax on stamp duty. It is worth $8.7m in revenue. It is not a handbrake on industry and business, and there has been broad acceptance of the budget today by business and industry - they get it.
You do not give up $8.7m of revenue when your GST revenue collections are down because of the slowness in the national economy, the conservative consumer as a result of the global financial crisis, and now the sovereign debt risk occurring across Europe which is compounding it. You also have the manufacturing sector being impacted upon in the eastern states, which is having a dampening effect on the national recovery.
You do not irresponsibly give up $8.7m in revenue when your GST revenue is down by $3.1bn. We have not moved away from the commitment, we have deferred it. I said in my budget speech that we have deferred it until we reach an appropriate time for the budget to meet that commitment. The commitment remains, we have deferred it. We are not the only jurisdiction to defer it. In fact, I stand to be corrected, but I believe at this stage only Victoria has proceeded with it.
ANSWER
Madam Speaker, I welcome the question. The stamp duty commitment remains. We have literally deferred it. It is worth $8.7m ...
Members interjecting.
A member: Deferred it to the next term of government.
Madam SPEAKER: Order! Order!
Ms LAWRIE: They are a rabble. You might want to talk to Newman in Queensland; he is doing exactly the same thing. Liberal governments around the nation are doing exactly the same thing.
The final remaining stamp duty concession is worth $8.7m in revenue. If you want to strip it out, I will look forward to that in the budget response tomorrow by the Leader of the Opposition – lost revenue of $8.7m ...
Mr Tollner: You are the one who committed to it.
Madam SPEAKER: Order!
Ms LAWRIE: As I have already pointed out, that was part of a range of stamp duty transactional taxes to be removed as part of the GST coming in agreement. When the GST collections have dropped by $3.1bn in the 2011-12 financial year from projections back in the May federal budget of last year, it is appropriate to hold back that revenue cut. The GST is well below the guaranteed minimum agreement struck between the Commonwealth government and the states and territories at the time we agreed to give up those transactional taxes. We have one remaining transactional tax on stamp duty. It is worth $8.7m in revenue. It is not a handbrake on industry and business, and there has been broad acceptance of the budget today by business and industry - they get it.
You do not give up $8.7m of revenue when your GST revenue collections are down because of the slowness in the national economy, the conservative consumer as a result of the global financial crisis, and now the sovereign debt risk occurring across Europe which is compounding it. You also have the manufacturing sector being impacted upon in the eastern states, which is having a dampening effect on the national recovery.
You do not irresponsibly give up $8.7m in revenue when your GST revenue is down by $3.1bn. We have not moved away from the commitment, we have deferred it. I said in my budget speech that we have deferred it until we reach an appropriate time for the budget to meet that commitment. The commitment remains, we have deferred it. We are not the only jurisdiction to defer it. In fact, I stand to be corrected, but I believe at this stage only Victoria has proceeded with it.
Last updated: 09 Aug 2016