land

Media Release: The Economy Made Easy

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Real estate cycle expert Bryan Kavanagh says turnover and price declines in Sydney and Melbourne during 2018 indicate an economic recession in the 2019-20 financial year. The 2018 “Kavanagh-Putland Index”, released today, shows the total value of Australian real estate sales to GDP. Mr Kavanagh said the $50 billion pumped into markets by the Rudd-Swan […]

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HomesVic: An equity share of a broken housing market

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Like most 30 somethings with a substantial HECS debt and an addiction to avocado on toast, I am an aspiring first home buyer. I’d love to buy the home I currently rent: a daggy 1960’s ‘six-pack’ flat on a main road in Footscray. It’s currently valued around $360,000. To put down a 20% deposit, I’d […]

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The Metricon Judgement

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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 to subdivide for residential use. It side-stepped a land tax liability of around $1.2m per […]

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NSW fire services to be funded by the land

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The NSW government is reforming how it funds fire services, removing the charge on fire insurances and introducing a land-based levy. NSW Treasurer Dominic Perrottet says: “Eliminating the old (Emergency Services Levy) is expected to reduce insurance costs on residential property by an average of $233, leaving fully-insured residential property owners better off by $47 […]

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Does Berejiklian want to play Monopoly? Does Perrottet?

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Damien Perrottet, deputy to the new NSW Premier Gladys Berejiklian, is retreating from the former Baird government’s plan to sell a 35 year lease of the NSW land titles register. NSW’s conservative government is ahead in the polls – and Berejiklian appears determined to keep it that way, even if it means abandoning unpopular measures. […]

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Andrews government funds Futbul – not people in need

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The Australian Football League has bought the Docklands Stadium freehold asset that cost $460m to build in 2000 from the Andrews ALP Victorian government for $200m – allegedly to assist “tenant clubs struggling under onerous deals to play at the roofed venue.” In nine years time they were set to get it for just $30 […]

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Land Use Corrupted by Economics and Religion

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by Bryan Kavanagh reposted from thedepression.org.au ECONOMICS Economics is about how we produce and distribute our wealth. This is important because it’s about us: about our daily lives. But we’ve outsourced economics to economists who don’t understand the role of land within political economy. They’ve put themselves upon a pedestal as high priests of a […]

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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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It is still land, even underwater.

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The High Court of Australia has affirmed the right of a west Tasmanian council to levy rates on the seabed. It is still land, even underwater. Council saw the land under eight marine farming leases as ‘rateable land’, Tasmania’s Valuer General declined to value them as not ‘Crown lands that are liable to be rated […]

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Metricon wins land-tax case – everyone loses

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The national pastime of withholding land from use and enforcing scarcity has been boosted in the NSW Supreme Court when developer Metricon won a land tax case against the Chief Commissioner of State Revenue. Metricon successfully argued grazing a few cows to keep the grass down on land it had bought for residential development made […]

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