tax reform

Greens discover the housing, tax and wealth reality

on

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 discount and proposes exchanging state-based Stamp […]

Read more

Leadership is more than presiding, Gladys

on

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 views only came to light after journalist Adam Creighton used FOI to prise his report […]

Read more

Our lives are like a Hieronymus Bosch or Pieter Bruegel painting

on

by Dr Gavin Putland WORKERS (i) pay rent, (ii) help their employers to pay rent, and (iii) raise some of the next generation of rent-payers. LAND SPECULATORS (i) receive economic rent for the gifts of nature, (ii) take the credit for providing them, and (iii) lobby governments for an ever-increasing supply of rent-payers. BANKS (i) […]

Read more

The fragrant vagrant is not a rose by another name

on

Melbourne City Council is wringing its hands again over developer land vagrancy – prime sites deliberately held vacant or with disused, dangerous buildings to assist developer lobbying of government for rezoning or advantageous building permits. The issue last hit the news when a wall collapsed at the old CUB site in Swanston Street in 2013 […]

Read more

The Metricon Judgement

on

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 […]

Read more

Mozambique model creates jobs and food… can this work in South Africa?

on

by Peter Meakin South African Constitutional Property Rights Foundation Will Minister Gigaba encourage the trafficking of South Africa’s unemployed to Mozambique? Realistically, the best chance for South Africa’s 8.5 million jobless is a single bus ticket to Maputo. Work prospects there are unlimited because access to fertile land is free. That alone is a treasure […]

Read more

Reading tea-leaves won’t help – look at the tax bases

on

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 taxes is the single most important tool government has to foster national prosperity. It is […]

Read more

Victoria gets annual land valuations

on

The Andrews government has announced State Land Tax will be calculated annually rather than every two years, a painless inexpensive reform Prosper urges all states to adopt. The Valuer-General’s assessment is used to calculate council rates and land tax. Valuers today use computer-assisted mass appraisal to determine what land is worth, so upgrading the biennial […]

Read more

Missing the point on corruption

on

by Dr Cameron Murray reposted from macrobusiness On Friday 28th April I am appearing and Queensland’s Crime and Corruption Commission’s Operation Belcarra as an expert witness on relationships between councillors and property developers, and how that leads to favouritism. A narrow focus What is interesting from my perspective is how narrow the focus of the […]

Read more

Turnbull Government prepares to squib on PRRT

on

The Petroleum Resource Rent Tax has been a successful revenue-sharing device since 1987, delivering well over $33 billion to Consolidated Revenue, derived entirely from the economic rents of resource extraction with no harm to producers. It has never deterred exploration or hindered output. Treasurer Scott Morrison commissioned a Treasury review by Michael Callaghan into why […]

Read more

https://prosper.org.au/tag/tax-reform/