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'It slows growth': Morrison slams Victorian budget

2 minute read object(stdClass)#17693 (8) { [ image intro ]=> string(67) images/articleimages-391x261/850x492/Scott-Morrison-speaking-ad.jpg [ float intro ]=> string(0) [ image intro alt ]=> string(31) Morrison slams Victorian budget [ image intro caption ]=> string(0) [ image fulltext ]=> string(0) [ float fulltext ]=> string(0) [ image fulltext alt ]=> string(0) [ image fulltext caption ]=> string(0) } John Buckley A A Speaking from Hillwood Berry Farm in Tasmania, a stop on his government’s federal budget tour, Prime Minister Scott Morrison lambasted Victoria’s 2021–22 state budget, labelling it a “self-defeating” product of a Labor government non-conducive to the nation’s economic recovery. Advertisement ); googletag.cmd.push(function() { googletag.display( div-gpt-ad-1606778434582-0 ); }); } Advertisement “This is th ....

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Real estate tax is easy pickings for lazy politicians


Real estate tax is easy pickings for lazy politicians
Property: it’s an easy target for increased taxation at a time when governments face insatiable demand for services but slower growth in the traditional tax bases.
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One of the curious aspects of the Victorian government’s latest property tax proposals is the amount of money Treasurer Tim Pallas estimates the new windfall gains tax will actually raise.
The estimation – $40 million a year, according to the government’s release – seems low for a tax that aims to reclaim half of the valuation upside from most major rezonings.
Owners, and their tenants, contributed more than $35 billion in stamp duty, land tax and other state government charges in 2018-19, a figure around 50 per cent of state government revenue.  ....

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