First published on MacroBusiness, read our summary and report. The Thodey Review’s draft report is right to place land tax at the centre of its vision for state tax reform. Replacing stamp duty with what the Review called “the states’ best tax lever” has the...
South Australia is reforming Land Tax laws so holders are assessed on their aggregate land holdings by looking through corporate structures some have created to minimise their liabilities. The SA reforms mirror and are based on existing laws in Victoria and NSW. This...
Victorian Treasurer Tim Pallas has pre-announced Land Tax changes ahead of Monday night’s state budget. Expect a dramatic budget contraction as Victoria’s key ‘own revenue’ source, Stamp Duty, has shrunk with the fall in both property transaction volumes and prices....
The IMF has added its voice to the calls for Australia to reform how we tax ourselves to be more productive, fairer and better placed to manage the headwinds ahead. Its annual consultation report with the Australian government says: “Stamp duties should be...
By Catherine Cashmore The proposal to cut the company tax rate from 30% to 25% has received much media attention. We are repeatedly told it is needed to boost investment. The rational follows that companies are more likely to invest in productivity if they don’t have...
The Northern Territory Government's Revenue Discussion paper submissions have come to a close. Prosper's Submission focuses on supporting the NT Government in shifting towards a broad based Land Value Tax and further improving existing Royalty arrangements. The...
The debate over tax policy in Australia has reached fairly mediocre levels. The best the Federal Government can muster is a company tax cut, which they intend to by stealth replace with income tax via bracket creep. Meanwhile the natural bounty of land is ever...
The Productivity Commission’s recent five year review, “Shifting the Dial”, brings the welcome recommendation of a shift from stamp duties to a broad-based land tax. Stamp duty is a dud tax from the economist’s point of view; it doesn’t achieve an obvious...
Amid recent GST distribution cuts of $400m p.a. (about 12% of revenue) and a flagging property market, the Northern Territory Government is facing severe fiscal challenges. The NT is the most stamp duty reliant government in the federation, and has been hard hit an...
Toorak has been in the news - only 5 properties are currently publicly advertised for sale in the exclusive suburb, ensuring scarcity delivers daunting prices. The Domain wrote in glowing terms about a $7m profit on a tennis court held over 20 years. It is not...