Page 312 - Week 01 - Thursday, 10 February 2022

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(8) Optimising the LMWQCC treatment process is part of the normal operation of the plant and is included and distributed across operations and maintenance budgets.

Every five years Icon Water’s operating and capital budgets are reviewed by the Independent Competition and Regulatory Commission (ICRC) as part of the price regulation and review process. Several projects to upgrade and improve LMWQCC feature in the budget and are progressing as planned. LMWQCC accounts for 35 percent of the capital investment budget for 2018–23.

Icon Water proposed approximately $50 million per year of capital investment in the sewer network in their 2018-23 price submission to the ICRC. This supports renewal and upgrades of both the sewage pipes and the treatment plants.

Icon Water invests in LMWQCC and its sewer network on an ongoing basis based on asset and service projections, and expects to continue doing so into the future.

(9) The Healthy Waterways assets situated along the Molonglo River should not be adversely affected by the sewage release. Flows in the river will dilute the effluent and it will be treated in wetlands in the same manner as is organic and inorganic pollution from other sources.

Taxation—land tax liabilities
(Question No 426)

Mr Cain asked the Treasurer, upon notice, on 17 September 2021:

(1) For residential properties identified prior to transfer to have land tax liabilities identified in the financial years (a) 2018-19, (b) 2019-20 and (c) 2020-21, what was the volume of transactions and the dollar value of land tax liabilities collected for these transfers.

(2) For how many (volume and percentage of total transfers with land tax liabilities) of these individual liabilities (a) were penalties levied, (b) was interest charged, (c) was interest and penalties charged and (d) was no interest or penalties charged.

(3) What are the most common reasons for not charging interest or penalties, when no penalties or interest are charged.

(4) Have there been any examples where ACT Revenue has been notified by a real estate agent or an owner via any means including lodging of a rental bond where as a result land tax bills were not sent to owner; if so, what was the total dollar value of tax liabilities collected for these transactions and what are the top three reasons why notification bills were not sent to the owners.

Mr Barr: The answer to the member’s question is as follows:

Question 1.

The following table outlines the volume and value of land tax assessments for the respective periods where land tax was assessed within 30 days before a lease transfer date (normal settlement period).

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