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…
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 submission is briefly…
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…
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…
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…
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…
The Greens have a new housing policy out. They begin with the high principle that all should have access to land then veer off with emotion at the tax rorts available to the wealthy. Everyone Needs A Home calls for…
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…
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…
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…