Our Policy Position on the hotch potch of property taxes is now online. With affordability reaching epic proportions, it is time governments of all levels looked into the eyes of the problem – inaccurate council rates and land taxes.
With council rates going out at present, we have seen headlines promoting all the usual scaremongering. The Herald Sun said inner city residents would face a 90% increase. Flying in the face of this, the City of Melbourne announced just a 3.5% increase in rates! Why are there such inflammatory reports?
Any charge placed on land is unavoidable, as compared to company taxes, for which it was revealed this week that the millionaires factory at Macquarie Bank paid only 5% out of the 30% set for company tax.