Government has announced a new $6.20 flat rate tax on the sale of newspapers, magazines and CDs in Queensland.
The rate will be in place for one year.
Under the new plan, which was announced at the end of the state election last week, newspapers and magazines will be taxed at 30 per cent, magazines at 10 per cent and CDs at 15 per cent.
The tax will apply to any transaction involving paper, printing, packaging and/or other property used for advertising or sales of goods.
The rate is in line with the state’s national rates.
Key points: The Government has confirmed that it will start a one-year trial of a flat rate rate tax in Queensland for newspapers, media and magazines, with a $6,200 flat rate in place from January 1, 2018 The change is aimed at making it easier for the Government to spend money on social welfare programs, including the Northern Territory’s disability welfare payments, the ABC reported.
Premier Annastacia Palaszczuk said the flat rate had been in the works for a number of years.
“What we’re doing is working with the community and with other stakeholders in the community to try to find the best way to spend that money and make sure that we are creating jobs and making sure that our businesses are being supported,” Ms Palasza said.
She said the policy would have no impact on people who were already paying taxes, because they would pay taxes on the money they earned.
“So what it will do is give a little bit of relief to those who have paid taxes already,” she said.
Ms Palasczuk has promised to reduce the state rate to the national rate of 25 per cent if elected.
Ms Paloszczu said the Government’s goal was to reduce Queensland’s unemployment rate from 12 per cent to below five per cent by 2022.
There are currently over 3,500 people employed in Queensland, including over 1,500 on disability.
Queensland is a key part of the federal budget, providing $9 billion in public infrastructure funding.
Labor’s budget is expected to contain $3.3 billion in spending, including $2.5 billion on public transport and other infrastructure, as well as $1.6 billion on a new national broadband network.