Articles

Fishing for a free ride in Macquarie Harbour

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In April last year, the High Court of Australia affirmed the right of a West Tasmanian council to levy rates on the seabed within its municipal boundaries. This precedent means, in a legal sense, land is land, even underwater. It has implications for industrial activity on submerged lands like offshore wind farms, tidal turbines and […]

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Victoria to tax vacant properties into use

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Premier Daniel Andrews announced a range of housing affordability measures Sunday, some of which will help. The eye-opener is the introduction of a Vacant Residential Property Tax at one per cent of the capital improved value on properties held vacant for six months or more. This mimics Vancouver’s Vacancy Tax introduced last November – also […]

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Report Insights on the UN’s Financialisation of Housing

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The UN Special Rapporteur’s Report into the financialisation of housing delivers a damning indictment on the worldwide commodification of housing. The report investigates the state of housing globally, the current economic policy trends to control and shape investment, and the efficacy of those policy measures. Finally the report makes a series of key recommendations for […]

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Value Capture Verve

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Prosper’s recent value capture submission answered pressing questions, an indication of how deeply the Department of Infrastructure is considering this vital funding mechanism. Read the department’s Value Capture discussion paper for an insight into their understanding. Value Capture submission Infrastructure Investment Division Department of Infrastructure and Regional Development February 2017 About Prosper Prosper Australia is […]

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Next time government says it can’t afford to build, wave this IA report in their face

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Australia has a problem: we can’t build roads, rail and schools as fast as population is growing with current government financing methods. Failing to keep up with our current needs – let alone investing for an uncertain future – puts the living standards of everyone at risk. We and our ancestors worked very hard to […]

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True Grit: leadership, political backbone and advancing the national interest

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The worst tax we pay is a state charge – conveyancing Stamp Duty, which makes it hard, sometimes impossible, to move across town to a better job or around the corner to a bigger or smaller home. Anyone living with modern teenagers and the elderly in a house of many steps or plentiful weeds know […]

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Retiring to live on the fat of the land may not be possible – rents are falling

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CoreLogic’s Quarterly Review of the residential property market released yesterday brings sobering news for land holders – particularly Australia’s 1.2 million strong Negatively Geared investor class. Rents are falling. Source: CoreLogic CoreLogic’s Tim Lawless observes: “Rental incomes are falling across the combined capital cities in the midst of the weakest rental market on record. A […]

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Seize the Day, Scott Morrison – rid Australia of a bad tax and free up the land

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The land supply equation in Australia – flashing red danger signals for years – has finally come to the attention of federal Treasurer Scott Morrison, who is charged with the task of advancing national prosperity. He may even be prompted into action. Notoriously well-connected Alan Mitchell is out today in the AFR with the latest […]

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REIA contradicts itself on negative-gearing policy (updated)

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Further to my post of 21 May, I note that the Real Estate Institute of Australia (REIA) is now making two contradictory claims on Labor’s negative-gearing policy. In mid May, the REIA launched its campaign claiming that if negative gearing for future purchasers is allowed only for new homes, rents will rise, because: (a) investors, including investors […]

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Challenging the banks

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The Bernie Sanders-Hillary Clinton contest in the debates for Democratic Party presidential nominee is paring back to whether Main Street should challenge the Big End of Town. Sanders has questioned Clinton’s judgment at least, in accepting $225,000 to speak approvingly to Goldman Sachs’ directors. Her responses on the question to Sanders have been unconvincing. Behind […]

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