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Citizens are entitled to RSPT

PM Gillard’s defiant speech to the Minerals Council of Australia yesterday – asserting national ownership of our mineral wealth and the country’s right to a share of the bounty being dug up and shipped out – was good politics, good economics and a much needed...

Repeal Stamp Duty!

Sign the petition The Victorian Government should remove stamp duty from the sale of property to increase housing affordability, support first home buyers and give the economy a much needed boost according to the Stamp Out Stamp Duty Campaign. The Stamp Out Stamp Duty...

Psst! Stamp duty can be avoided

As the Fairfax papers reported on April 14, the NSW government has rejected yet another recommendation to replace conveyancing stamp duty by a broad-based land tax. That is the effect of the “stamp duty replacement tax” recommended on page 13-4 of the...

Now Everyone Hates Stamp Duty

On Monday the Real Estate Institute of Victoria made public its submission to the Victorian Government on the framing of the state budget. They are big-hearted enough to call for an end to the First Home Bonus – a ‘gift’ to buyers that merely inflates land prices by...

What a party; what a hangover!

The RBA said yesterday assets have fallen by $40,000 per household in the last year. No wonder everyone is now saving over ten percent of their incomes and slashing mortgage balances with grim determination. The economy, which usually steers like an oil tanker, has...

Taxi! Tax Me!

Citizens retreat confused when talk turns to Economic Rents. The taxi industry is an excellent example of how assets granted by government create economic rents – at the expense of the wider community. There are 5181 taxi licences in Victoria, of which the Department...

Change or suffer

Australian land prices are falling. They will continue to fall until their fundamental economic link to incomes and rents are fully restored. Many with large mortgages will be crushed by these towering liabilities when their equity is erased. This claim is bitterly...

Time to buy an Italian sports car – not

photo credit: VOD Cars Credit Suisse’s Global Wealth Report 2011 offers fascinating insights – particularly for Australia. The nature and spread of our wealth is strikingly – astonishingly – different to every other country. Owning net assets (after deducting...