How property valuation is helpful for calculating house price
Today, the WA Government claimed that it was worse off as a result of a 0.7% growth in federal grants, to the tune of $148 million dollars. property valuation is the process of finding house price by evaluating full property. Property Council Executive Director, Mr Joe Lenzo, said that the Government was receiving mountains more money from tax than it was 3 years ago, and was busy spending it.



In 2002, the Property Council advised the WA Government that there was $1300 million in new superannuation fund investment that could be directed to WA over the next 5 years. Not only will we face fewer new superannuation funds invested in WA, but the value of existing superannuation has been eroded. Today’s reports of multi-million dollar stamp duty windfalls being used to prop up the WA Government’s budget should be sounding loud alarm bells.

Until that time, stamp duty should be calculated on the GST-exclusive price of transactions. In a state budget submission being sent out this week, the Property Council strongly encourages the Queensland Government to use its Treasury to maintain pressure, especially in regard to the accelerated eradication of stamp duty as a priority area for state tax reform under the new arrangements. Land Tax is another issue dealt with in the submission that calls for further steps to eradicate the fundamental inequity of land tax.

Although applauding the recent introduction of a 15% land tax rebate, The Property Council seeks further reductions and solutions to a number of other fundamental problems remaining. Outsourcing and Corporate Real Estate Strategy represents further concerns and the Property Council stresses that any financial windfalls from asset sales of annual cost savings from outsourcing should be used to fund pressing capital works or program initiatives for the benefit of the Queensland economy.Provide as much forward information as possible to facilitate improved long term budget planning.