Noosa to save $13 million on asset transfer
A NEW Noosa Council will escape being slugged at least $13 million in stamp duty by the State Government for the transfer of public assets from the Sunshine Coast Council.
That would have almost doubled the estimated cost of Noosa's de-amalgamation as set down by the Queensland Treasury Corporation.
Member for Noosa, Glen Elmes, said under "usual circumstances" the transfer of assets would incur a 5% stamp duty based on the value of the asset.
"I had made it clear to Local Government Minister David Crisafulli that it would be grossly unfair if Noosa ratepayers had to pay for the return of assets which were rightfully theirs," Mr Elmes said this week.
"He agreed and the Queensland Government will now legislate so that the new Noosa Council won't have to pay the stamp duty to the state.
"While these costs weren't factored into the original de-amalgamation costings, the legislation will ensure they don't become an extra cost."
Mr Elmes said the assets transfer valuation on Noosa's returning capital assets had been set at $52,782,913, so the stamp duty calculation was just on $13 million.
Mr Elmes said these Noosa assets were taken without the people of Noosa having a say.
"It would be nothing short of criminal if Noosa ratepayers had to pay an extra charge to get back what is rightfully theirs," he said.