The message to entrepreneurs is why invest in SA


"Unfair, unsustainable, uncompetitive": Lib MP unleashes on land tax

LOCAL

EXCLUSIVE | A Marshall Government MP and former Liberal state president has sensationally broken ranks over the party’s land tax grab, telling constituents the proposed changes would “unfairly penalise law-abiding citizens” and drive investment out of the state.  It comes as the South Australian chapter of the Entrepreneurs’ Organisation – an international network of influential business owners with 186 chapters worldwide – today added its own voice to the chorus of business discontent, with president Andrew Phillips saying the proposed changes “will only serve to make SA less attractive” as an investment destination, “whilst also opening the floodgates for up-and-coming local entrepreneurs to move interstate”.

The message to entrepreneurs is – why invest in SA when New South Wales and Victoria present far superior opportunities?

“This initiative is not only an attack on aspirational citizens who have legally structured their holdings in a manner permitted by the Land Tax Act of 1936, but it reinforces the perception that we don’t know how to grow our economy organically,” he said in a statement.  “We are looking to our government to lay the foundation for increased entrepreneurial activity, rather than focusing on new ways to penalise growth and success.”  The Adelaide chapter, co-founded by Business SA CEO Martin Haese, has 50 members, with membership “open to entrepreneurs who have established businesses with a turnover in excess of USD$1million”.  Phillips said one member had recently arrived from South Africa, “where he had a substantial property portfolio and had intended on establishing a similar one here”.  “Sadly, his plans to enter the property market have now been shelved – and I wonder how many other ventures involving property have also now been parked due to the uncertainty the proposed changes bring,” he said.  “The message to entrepreneurs is – why invest in SA when New South Wales and Victoria present far superior opportunities?”



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