The Budget missed an opportunity to curb the drain on public money to land speculation, according to the Canberra Conservation Council.
Its president, Jacqui Rees, said yesterday that the Budget should have abolished the 50 per cent concessional rate of betterment tax for residential redevelopment.
It should have corrected the anomaly that some dual and multi-occupancies where the title is not divided pay only one set of rates for two or more sets of services.
“”The ACT cannot afford this extravagance when basic public services are being run down for lack of funds,” she said.
Continue reading “1994_06_june_reesbud”