Page 17 - Danni Hunter News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The southern state’s plan to raise $40 million from uplift on rezoning land is a small part of the $2.7 billion it aims to make but will have big implications.

Developers and land speculators who reap windfall gains when their property is rezoned will be hit with a 50 per cent tax if the gain is worth $500,000. The brunt of the new tax increases would be worn by landlords, with the state’s land tax haul to lift by more than 10 per cent, and stamp duty to raise $761 million by adding a premium to stamp duty payments for property transactions valued at more than $2 million. Treasurer Tim Pallas said on Saturday that the changes were about “making sure that everyone pays their fair share to support Victoria’s economic recovery,” and that “mor...

Advertisement Melbourne’s glut of empty CBD offices and apartments could be used to revive the inner city’s ailing creative sector, which has left the area in droves over the past 20 years, according to a leading urban designer. Hodyl and Co managing director Leanne Hodyl, who conducted a built form review of the CBD for the Victorian government, said there was more empty office and student apartment accommodation in the city than there was demand for either. Could Melbourne’s city office towers be converted to apartments? Planners are not so sure. Credit:Jason South Ms Hodyl p...

Advertisement Victoria’s building industry took a $370 million hit last year as the COVID-19 crisis locked international students out of Australia, causing cash-strapped universities to stop building, and apartment projects to stall. The Property Council of Australia said the knock-on effects from the absence of overseas students had cost the state’s economy more than $1 billion and kept 13,000 Victorians out of work. Raymond Mah of DKO Architects says the student accommodation building business has dried up. Credit:Jason South The Master Builders Association of Victoria has added ...

Confidence in Victoria’s property industry lags behind national average By Bianca Dabu 15 April 2021 | 1 minute read SHARE While confidence continues to climb across a majority of the nation, Victoria is lagging behind as it struggles to recover from the impacts of COVID-19. In the latest ANZ/Property Council of Australia industry confidence survey, Victoria scored a slim 124 index points for the March 2021 quarter – below the national average of 142. A score of 100 is considered neutral. In contrast, all other states and territories were either at par or higher than the national average...