Lisa Jones wrote on Jul 1
st, 2023 at 9:39am:
JC Denton wrote on Jul 1
st, 2023 at 8:26am:
yes, the utter non-enforcement re: foreign buyers is another issue, the government will do nothing about that as well. anything that upsets the land market racket will never be seriously addressed in any significant way. whatever solutions that are floated will inevitably only increase land prices, such as first home buyer grants which are a clandestine method to decrease affordability through the subsidiation of demand. it's all by design; the government doesn't want land to be affordable, bc it ostensibly 'benefits' in a grotesque, short-term and avaricious sense boomers, their property developer donor mates, and themselves.
in reality inflated land markets have a strangulating effect on economies, deleteriously impact firm entry, ruin businesses and misdirect investment flows into an ultimately unproductive sector. land is a fundamental economic input and for the sake of productivity you want it to be as inexpensive as possible.
Ahh that!! The tax system MUST overvalue land ie DIRT Why? Land tax rates and council rates ie these other taxes must continue to filter into the coffers of those WE foolishly elect. How else will these selfish a/holes be able to afford their ridiculous annual pay-rises, lurks and perks and super comfortable superannuation schemes THROUGHOUT A GLOBAL RECESSION AND UNRESOLVED GLOBAL PANDEMIC???
In Victoria the Govt is interfering again with new land taxes
that will push up rents to hit the most disadvantaged people.
So much for his Marxism.
Dirty Dan doesn't care about the poor suckers who voted for him -
they gave him another 4 years of autocratic power.
https://www.theguardian.com/australia-news/2023/may/23/victoria-state-budget-win...Property investors
From January 2024, Victorians who currently pay land tax will be hit with an additional annual fee of $500 for landholdings worth between $50,000 and $100,000 and $975 for land worth between $100,000 and $300,000. For land worth more than $300,000, the $975 fee plus an additional hike of 0.1% will be charged. Family homes will remain exempt from land tax.
Pallas said 860,000 Victorian landowners will be affected, who will pay an average of $1,300 in additional taxes. He justified the hike by pointing to the land values increasing by 84% in the past decade. Rents have also increased by 25% over five years.