Car park tax earns ire of Institute

A tax on car parking spaces has earned the ire of the Real Estate Institute of South Australia (REISA).

“Already, property taxation accounts for about a third of state government revenue, generated from the State, so now, this will be another tax and sting for those thinking about property investment,” REISA CEO, Greg Troughton said.

The tax - $750 a year per space – comes as part of the state government’s mid-year 2012-2013 budget review.

“What must be remembered is that everyone pays the burden of this tax increase as investors seek to level their inputs with income and it will no doubt mean a further increase on parking charges, which have already risen considerably in recent times,” Mr Troughton said.

“[The] mid-year budget numbers show that income from the property market is down on estimates, so it seems surprising that the state government is again taxing this area.

“The property sector needs to a boost, not another tax impost.”

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