land tax

Stamp Duty slugs families $91 a month

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The Housing Industry Association today released their estimate that conveyancing Stamp Duty costs Australian households $91 a month. “By eroding deposits and making homebuyers borrow more, stamp duty is estimated to add $91 per month to household mortgage repayments for a median priced home,” HIA economist Shane Garrett said. “Apart from hurting ordinary households, stamp […]

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Dear Prime Minister, I’m an innovation worker and your ‘Plan’ will drive me away.

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By Matt Ellis reposted from RationalRadical Dear Prime Minister Turnbull, I am writing to belatedly and publicly call your bluff on your so called ‘innovation agenda’, which forms a key plank of your ‘Plan’ for jobs and growth. There are all kinds of reasons to be disappointed with your leadership of this country so far, […]

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SMH gets thoroughly modern and calls for a land tax

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The Sydney Morning Herald thundered about NSW government finances in a May 25 editorial: $17 b a year hole in NSW future finances. This is mostly the usual stern conservative stuff we have learned to expect from Fairfax. But it does close on an upbeat note: “The Herald has long called for NSW to transition […]

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REINSW: as trustworthy as the agents they represent

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The Real Estate Institute of New South Wales calls for conveyancing Stamp Duty discounts for first home buyers and “property consumers over 65 years of age” in its submission to the NSW government‘s June 2016 budget. They say: “The ultimate goal must be to abolish stamp duty. It is an unjust, inefficient and market-distorting tax.” […]

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“Land is the key to ending bad taxes” with Dr. Terry Dwyer

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When: Thursday 26 May at 6:30pm Where: Level 1, 64 Harcourt St North Melbourne Presenter: Dr. Terry Dwyer Tax reform is hard yet the benefits are great. Australia can no longer afford to delay structural reforms. The Panama papers controversy highlights the need for an immobile tax base and one that does not rely upon […]

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Bad taxes are destroying our jobs and enterprises – here’s proof

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World-class fertiliser producer Incitec Pivot Ltd has painfully written $105m off its Gibson Island plant in Brisbane – squeezed by high gas costs, low Urea prices and bad taxes – just as it enters a major ‘shut’ to refurbish this key national industrial asset. Turning gas into nitrogen fertiliser is genuine value-adding, unlike the three […]

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4 Corners: Home Truths

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President Catherine Cashmore has been busy with the 4 Corners team filming a number of scenes around Melbourne. Tonight we find out which scenes make national TV in a much overdue investigation into the pressure housing affordability places on society. Thanks to all those supporters who have written into the show over the years requesting […]

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Does your SMSF have a goat?

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Those with a Self Managed Superannuation Fund who hold englobo land in Victoria will need a fresh accessory after the state budget: a goat to eat weeds. Treasurer Tim Pallas has kindly extended the englobo wheeze that deems unimproved land within urban growth boundaries to be primary production land and exempt from State Land Tax […]

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Vic land tax: Politics I Economics III, Politics wins

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Victorian Treasurer Tim Pallas will deliver the state’s 2016 Budget in a few minutes. Surpluses totalling $9.2 million over the next four years are pre-announced, as is the foreign property buyers’ Stamp Duty surcharge of 7 per cent and the State Land Tax surcharge of 1.5 per cent. The big, glittering reform – ending Stamp […]

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Victoria puts its citizens first – a welcome change

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The Andrews government will double the foreign property buyers’ Stamp Duty surcharge and triple the State Land Tax surcharge in the forthcoming Victorian budget – evidence they well understand the damage rent-seeking creates and how to change behavior. Our very bad taxes give preferential treatment to property – notably land rents – and fall overwhelmingly […]

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