nolandtax.com.au

Good luck with that one. Sheeshhhh...property investors ? ....they must be those rich people that drive Bentleys and live in Toorak! Just who are those people who live in painted tracky-daks and spend their weekends painting houses and are up to their neck in debt ...trying to fund their retirement .....surely ....they can't be property investors ! LL
 
Just another mob of whinging resi land owners from the inner city with run down digs who have hit the threshold on their first property and have no way of putting back on their tenants. ;)
 
I know a few bods sitting on a) vacant land and b) high density development site (decrepit house) where the land tax far outweighs any possible rent.
 
My most expensive land tax bill has been $33k for 1 site, While rent was more then that, it still hurt.
 
Speaking of ludicrous tax spends, I added up stamp duty sent to OSR on behalf of clients through my conveyancing practice, and it passed the $1m mark for the week.

Have done that previously when we had some large purchases (biggest stamp duty payment have done for a single purchase is ~$360,000), but this week we only had a couple of properties whose purchase price were north of $1m and nothing over $1.5m.
 
Some of you may know that the ACT government is phasing out stamp duty and upping the cost of ongoing rates/land tax. They don't even have thresholds like NSW and most other states, so any investment property gets charged land tax no matter what the value.

I just received my land tax bill for this year and it is up 28% on last year... and the AUV actually went down $6k. I think it stinks, it is punishing people who've bought their property before the changes and paid full stamp duty, and encourages renters and first home buyers to go out and buy and get an upfront benefit. I bet the ACT govt even hopes it will enable them to release more land to fuel an expected increase in demand from these new buyers, which means even more money in their coffers.

/rant
 
Just keep in mind ....the pollies and the public servants can make the rules whatever they want, so as to take more of your money. As long as they 'attack' small groups (and property owners are sitting ducks) who have no political clout, they win. That's the system. LL
 
I am surprise more states hasn't gone down this path as it is much more reliable revenue stream compared to stamp duties.

Stamp duties you need to move volume but land tax is a sure thing doesn't matter whether it is a bear or bull market and

they can just jack up 5%-10%-20% on land tax each year and there isn't much anyone can do anything about it; well they can by not owning properties but you know how attached Aussies are to their housing it is a sure win for the local government
 
this is the comparison

"LAND TAX IS UNFAIR
In addition to Land Tax, property investors are hit with a whole list of taxes and charges:

Income Tax on rent
Capital Gains Tax
Stamp Duty
Council Rates
GST on new buildings and renovations.

There is no equivalent tax on share investors. "

Since when Share investors doesn't have to pay tax for their capital gain or dividend income? and all the other tax the business already paid for it...
share investors own part of the business so it been paid as part of running a business, not only that business pay payroll tax for their employee :)

the argument has no leg to stand on
 
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