Economist Peter Abelson has dropped a bomb on Sydney’s madly expensive land market, asserting the usual demand and supply equations have little influence on prices while major positive benefits are available from ending Stamp Duty and using land tax. His views only came to light after journalist Adam Creighton used FOI to prise his report […]
by Dr Gavin Putland WORKERS (i) pay rent, (ii) help their employers to pay rent, and (iii) raise some of the next generation of rent-payers. LAND SPECULATORS (i) receive economic rent for the gifts of nature, (ii) take the credit for providing them, and (iii) lobby governments for an ever-increasing supply of rent-payers. BANKS (i) […]
Melbourne City Council is wringing its hands again over developer land vagrancy – prime sites deliberately held vacant or with disused, dangerous buildings to assist developer lobbying of government for rezoning or advantageous building permits. The issue last hit the news when a wall collapsed at the old CUB site in Swanston Street in 2013 […]
In March last year, the NSW Supreme Court set aside the NSW Office of State Revenue’s assessment for land tax in 2009-13 on certain lands at Terranora in the Tweed Valley held by Metricon. The developer bought the $60m aggregation to subdivide for residential use. It side-stepped a land tax liability of around $1.2m per […]
The federal Treasurer Scott Morrison used parliament yesterday to fire an extraordinary broadside at Australia’s banking cartel. Conservative governments rarely indulge in the public thrashing of such major supporters of the status quo. Morrison and the Turnbull government are absolutely furious with the big 4 banks and Macquarie for their brazen pursuit of self-interest at […]
The NSW government is reneging on the small, high quality reform of funding emergency services with a land charge instead of the very bad levy on fire insurance. Blue-rinse dragons of Mosman saw red – they will be paying $500 a year on median land values of $1.84 million while scumbag Fairfield holders with a […]
by Peter Meakin South African Constitutional Property Rights Foundation Will Minister Gigaba encourage the trafficking of South Africa’s unemployed to Mozambique? Realistically, the best chance for South Africa’s 8.5 million jobless is a single bus ticket to Maputo. Work prospects there are unlimited because access to fertile land is free. That alone is a treasure […]
Cameron Kushner of CoreLogic has offered an interesting analysis of property tax bases in Taxation Revenue From Property Continues to Climb. Tax bases reveal more about a country’s future prospects than Treasury forecasts and economist sooth-saying. Where and how it taxes is the single most important tool government has to foster national prosperity. It is […]
Last night’s federal budget included a fat gift to downsizing homeowners over 65 who can now put up to $300,000 from their house sale into superannuation, allowing many to keep their (part) pension and, most importantly, unlimited free healthcare. This stunning generosity to the asset-rich is in striking contrast to the Turnbull government’s behavior toward […]
The Andrews government has announced State Land Tax will be calculated annually rather than every two years, a painless inexpensive reform Prosper urges all states to adopt. The Valuer-General’s assessment is used to calculate council rates and land tax. Valuers today use computer-assisted mass appraisal to determine what land is worth, so upgrading the biennial […]
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