McGowan Govt Introduces New Pastoral Rents From 1 July 2019

McGowan Govt Introduces New Pastoral Rents From 1 July 2019

Western Australia Minister for Lands Ben Wyatt

McGowan Government’s Rental Phase-In To Help Western Australia Pastoralists

Victor P Taffa

  • New pastoral rents will come into effect on 1 July 2019
  • Rents are determined by the independent Valuer-General and are based on current land values and economic state of industry of which the Government plays no role
  • Government plan to assist with financial planning for pastoralists

Minister for Lands Ben Wyatt has announced that the McGowan Government will provide assistance to the pastoral industry by phasing in new rents for Western Australian pastoral leases over the next 3 years.

“Valuer-General has the statutory authority to set the rents for pastoral leases independently, this is not something as Minister I am able to interfere in.” Minister for Lands Ben Wyatt said.

“This is an imperfect process which has been inherited but one that I am reviewing. Unfortunately, my influence over this issue is limited.”

Western Australia’s pastoral rents are independently determined every 5 years by the Valuer-General in accordance with the Land Administration Act 1997. Rent determinations are based on current land values and the economic state of the pastoral industry.

Valuer-General has determined that most pastoralists in the State’s north will incur a rent increase while pastoralists in other areas of the State will experience moderate or no increase, and in some cases a rent reduction.

In order to assist pastoralists and ease the pressure of any increases, the McGowan Government will ensure that rent increases will be staged in over a 3-year period to allow pastoralists to take account of the rent increase in their forward financial planning. Increases will be capped at 20 % in 2019-20 and 2020-21, with the balance applied in 2021-22.

Revenue from the increased rents will be used to assist in delivering better economic, social and environmental outcomes on Western Australia’s pastoral estate.

Pastoral Lands Board is also working closely with the departments of Planning, Lands and Heritage; and Primary Industries and Regional Development, to identify properties which may require additional support and advice to better manage livestock and business decisions.