South Australia 2016-17 Budget Submission

A competitive taxation system coupled with prudent fiscal reform is vital to a healthy and growing economy. It is also essential to attracting global capital and encouraging domestic investment in property and other asset classes in South Australia. An efficient and equitable taxation framework will enhance community prosperity, strengthening the revenue base for future generations. Equally, efficient expenditure will also deliver a sustainable budgetary position.

We have taken a targeted approach in our 2016-17 Budget submission, with a focus on three main areas:

  1. Priority expenditure and investment;
  2. Tax reform; and,
  3. Budget efficiencies.

We applaud the State Government (“the Government”) for its recent trailblazing reform to property taxes in the form of a phased out abolition of commercial stamp duty on property; however, there is certainly more work to be done.

This submission provides the Government with a series of recommendations that have the potential to increase economic growth, create jobs and encourage investor confidence. All of our recommendations support the Government’s 10 Economic Priorities and can act as important drivers for realising those ambitions. It is now time for the Government to fund and implement reforms to improve our state’s efficiency, performance and productivity.

We welcome opportunities to engage with the Government further on the priorities outlined in this submission.