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Legislative Assembly for the ACT: Week 6 Hansard (24 June) . . Page.. 2778..


(2) The estimated land tax revenue in 2003-04 from commercial properties with an AUV of $100 000 or less is $1 144 100; from properties with an AUV between $100 001 and $200 000 is $991 100; and from properties with an AUV of $200 001 and above is $18 698 600.

Superannuation

(Question No 1490)

Mr Smyth asked the Treasurer, upon notice, on 4 May 2004:

(1) In relation to the action taken by the Commonwealth Government in March 2004 to introduce changes to the basis of the public sector superannuation scheme, will the changes to the public sector scheme (PSS), to operate from 1 July 2005, have any impact on the funding for and provision of superannuation benefits in the A.C.T.;

(2) If so, what is the estimated impact from changing the PSS from a defined benefit scheme to an accumulation scheme on the A.C.T. in terms of estimates of changes in the level of liabilities that are likely to be accrued.

Mr Quinlan: The answer to the member's question is as follows:

(1) The change is likely to have some impact, but details will need to be thoroughly checked when the Commonwealth issues appropriate guidance.

(2) Subject to further consideration of scheme design and the Commonwealth approach, the change from defined benefit to accumulation schemes will have some impact.

The superannuation liabilities of the Territory are reviewed annually, recognising known scheme design benefits. The next scheduled actuarial review will be commissioned in October 2004 (when data is provided by the Australian Government) for submission by end-December 2004.

The impact on funding and provisions will be minimal in the short-term, as the proposed new arrangements will apply only to new employees from 1 July 2005 and accordingly is dependent upon the level of staffing turnover across the ACT Government.

We will continue to review all aspects of superannuation.

Parking levy

(Question No 1491)

Mr Smyth asked the Treasurer, upon notice, on 4 May 2004:

(1) In relation to the announcement in the 2003-04 Budget of a proposal to implement a parking space levy in certain parts of the A.C.T., what is the status of this proposal;

(2) When is it anticipated that this new tax will be introduced;

(3) What has been the outcome of any consultations with the community and with directly interested organisations and groups about this proposed new tax;


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