Global Power | Local Knowledge | Uniquely Personal

Car park fees set to rise in Adelaide

Car park prices could be set to rise in Adelaide after the state government announced plans to raise taxes for car park owners.

People interested in buying property in Australia will need to consider the rising costs of owning a car in some urban centres, after the Real Estate Institute of South Australia (REISA) announced that Adelaide's State Government is to increase taxes for car park owners in the city area.

Property is the number one contributor to the state's economy, having generated $1.6 billion last year, although REISA chief executive Greg Troughton has challenged the government's decision after the mid-year budget showed that the property market is currently down on estimates for 2012-13.

By increasing taxes on car parks, parking spaces are likely to become more expensive, and the property market is likely to suffer as a result.

Mr Thoughton says the state government could be shooting itself in the foot by imposing greater restrictions on its largest economic sector at a time when it should be trying to give the market a boost.

DISCLAIMER: All information provided is of a general nature only and does not take into account your personal financial circumstances or objectives. Before making a decision on the basis of this material, you need to consider, with or without the assistance of a financial adviser, whether the material is appropriate in light of your individual needs and circumstances. This information does not constitute a recommendation to invest in or take out any of the products or services provided by SMATS Services (Australia) Pty Ltd or Australasian Taxation Services Pty Ltd.

COPYRIGHT: All information provided is protected by international copyright laws. You may not copy, reproduce, distribute, publish, display, perform, modify, create derivative works, transmit, or in any way exploit any such content, nor may you distribute any part of this content over any network. Copying or storing any content is expressly prohibited without prior written permission of SMATS Group or the copyright holder identified in the individual content's copyright notice. For permission to use the content on please contact

Subscribe Now