POPULAR WORDS

Treasurer Terry Mackenroth this week confirmed a reduction in land tax is on the agenda for June's Budget. His comments came in the wake of the Victorian government's land tax cuts in this week's Budget. In Victoria, the Bracks government has announced a further $823 million in land tax cuts for 2004-2008. The top marginal rate will be lowered next year to 3.5% and continue to be reduced to 3% in 2007/08. The Property Council says this reduces the Victorian land tax regime to levels comparable with Queensland. "It therefore welcome that the Treasurer has flagged reductions and the Property Council looks forward to serious reform to outdo the changes in other jurisdictions," it says.