Commercial rates hurting Canberra’s businesses

All modelling on the impact of commercial rates rises should be made publicly available, Leader of the Opposition Alistair Coe said.
Mr Coe will today call on the government to table the commercial rates modelling and the Revenue Office’s methodology and schedule for revaluing commercial land by the last sitting day in November.
“Businesses are fleeing the ACT because of the government’s aggressive rates regime,” Mr Coe said.
“The government is bringing in record revenue from commercial rates.
“Since 2015-16, commercial rates have increased by more than 30 per cent. In the same period, some individual properties have seen their rates double.
“But while rates are increasing, many properties are decreasing in value.
“Canberra should be a place where people can take risks, build businesses and invest. Instead business owners are fleeing the government’s exorbitant rates and loopholes to take refuge across the border.
“If the government continues to treat ratepayers like a piggy bank, more businesses will leave Canberra.
“Given the impact of commercial rates rises, the public should be allowed to scrutinise the modelling upon which it is based.
“This should be easy for the government to action as it requires no extra work,” Mr Coe concluded.