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...
BLOG: Stamp Duty
Prosper’s Northern Territory Revenue Submission
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...
Prosper’s 2018-19 Federal Prebudget submission
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...
A Land Tax for the Top End?
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...
What silly kind of a tax raises no money?
Overseas buyers of Melbourne real estate have had to pay a Foreign Purchaser Additional Duty since mid-2015. The tax raised $133 million last year, according to official figures released to The Age under Freedom of Information. The newspaper tried to suggest this tax...
Greens discover the housing, tax and wealth reality
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 an end to negative gearing, the Capital Gains Tax...
Oz lottery: Win $85 billion in Stamp Duty reform
Peter Martin, Australia’s clearest economic writer, has turned his icy gaze to Stamp Duty. This vile tax causes real harm to all of us and begs to be struck from the statute books. Yes, it is a state tax. Yes, the feds can push reform along and add $85.5 billion to...
Eureka! The Black Dragon has an epiphany
Louis Christopher of SQM Research – aka Black Dragon - has seen through the maze of deceit to properly identify the national interest and yesterday published Five Solutions to Housing Unaffordability Crisis. His prescription is simple: cut immigration, grow in the...
Victoria to tax vacant properties into use
Premier Daniel Andrews announced a range of housing affordability measures Sunday, some of which will help. The eye-opener is the introduction of a Vacant Residential Property Tax at one per cent of the capital improved value on properties held vacant for six months...
The WA Barnett government will be destroyed – who benefits?
The West Australian state election March 11 will be quite a fight. The few opinion polls suggest a handsome victory to the McGowan ALP opposition. ReachTEL has 55-45 two party preferred and Newspoll 52-48 in favour of Labor. Minor parties campaigning in the ashes of...