WA Lands Minister Ben Wyatt has announced that the WA Government will provide assistance to the pastoral industry by phasing in new rents for Western Australian pastoral leases over the next three years.
Western Australia's pastoral rents are independently determined every five 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.
The 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 WA Government will ensure that rent increases will be staged in over a three-year period to allow pastoralists to take account of the rent increase in their forward financial planning. Increases will be capped at 20 per cent 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.
The 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.
Source: WA Government