{"id":237269,"date":"2019-06-07T11:05:46","date_gmt":"2019-06-07T01:05:46","guid":{"rendered":"https:\/\/southburnett.com.au\/news2\/?p=237269"},"modified":"2020-07-26T14:27:01","modified_gmt":"2020-07-26T04:27:01","slug":"call-to-end-stamp-duty","status":"publish","type":"post","link":"https:\/\/southburnett.com.au\/news2\/2019\/06\/07\/call-to-end-stamp-duty\/","title":{"rendered":"Call To End Stamp Duty"},"content":{"rendered":"
\"\"<\/a>
QFF President Stuart Armitage<\/figcaption><\/figure>\n

June 7, 2019<\/b><\/p>\n

Queensland Farmers Federation has called for the removal of stamp duty from agricultural insurance to “even the playing field”.<\/p>\n

The peak body is urging the change ahead of next week’s State Budget.<\/p>\n

The QFF says that while the State Government continues to collect 9 per cent on agricultural insurance premiums and the GST, Queensland farmers are operating at a competitive disadvantage to their counterparts in other States and countries.<\/p>\n

QFF President Stuart Armitage said other Australian States had recognised the need to remove the tax and called on the Queensland Government to deliver the same sensible reform.<\/strong><\/p>\n

\u201cThe Victorian, NSW and the South Australian governments have all abolished this inefficient tax, leaving Queensland farmers well behind,\u201d Mr Armitage said.<\/p>\n

\u201cAgriculture operates in a global environment, so we are also in direct competition with farmers from other countries, such as the US, Canada and Europe, that service the same high-quality markets that we do. <\/p>\n

“These farmers receive very generous agricultural insurance subsidies and benefits from other business support policies.<\/p>\n

\u201cAccording to a draft report by KPMG into the feasibility of abolishing stamp duty on agricultural insurance products and QFF\u2019s own figures, the loss in tax revenue is minimal, but the potential returns of developing the nascent insurance market in Queensland could be substantial.<\/p>\n

\u201cQueensland farmers need more targeted and affordable insurance options. <\/p>\n

“Abolishing this tax is another hurdle that needs to be removed to realise this, which is why QFF and our members have been advocating for its removal for years.<\/p>\n

\u201cA more mature insurance market benefits industry and government as it would help mitigate the financial impact of extreme weather events on farm businesses and remove some of the burden that falls to government.”<\/p>\n","protected":false},"excerpt":{"rendered":"

Queensland Farmers Federation has called for the removal of stamp duty from agricultural insurance to “even the playing field”.<\/p>\n","protected":false},"author":20,"featured_media":267407,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[3,36],"tags":[1134],"yoast_head":"\nCall To End Stamp Duty - southburnett.com.au<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/southburnett.com.au\/news2\/2019\/06\/07\/call-to-end-stamp-duty\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Call To End Stamp Duty - southburnett.com.au\" \/>\n<meta property=\"og:description\" content=\"Queensland Farmers Federation has called for the removal of stamp duty from agricultural insurance to "even the playing field".\" \/>\n<meta property=\"og:url\" content=\"https:\/\/southburnett.com.au\/news2\/2019\/06\/07\/call-to-end-stamp-duty\/\" \/>\n<meta property=\"og:site_name\" content=\"southburnett.com.au\" \/>\n<meta property=\"article:published_time\" content=\"2019-06-07T01:05:46+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-07-26T04:27:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/southburnett.com.au\/news2\/wp-content\/uploads\/2018\/11\/armitage300x200.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"300\" \/>\n\t<meta property=\"og:image:height\" content=\"200\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Anne Miller\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Anne Miller\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/southburnett.com.au\/news2\/2019\/06\/07\/call-to-end-stamp-duty\/\",\"url\":\"https:\/\/southburnett.com.au\/news2\/2019\/06\/07\/call-to-end-stamp-duty\/\",\"name\":\"Call To End Stamp Duty - 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