IT appears the next step following many by the Reps in Macquarie Street is to replace STAMP DUTY with a broad-based LAND TAX
AND what lies behind yet another manoeuvre is to entice people to sell their homes … open up opportunities for developers to build more ‘homes’ (boxes/cells) and allegedly to make the NSW Guvmnt budget more manageable as spun in a draft on this government’s inquiry of federal financial relations
Included among 15 recommendations are a swap for LAND TAX, SCRAPPING STAMP DUTIES and GST changes
In 2018-19 the Berejiklian Government gained some $7 BILLION from ‘transfer duty’ but according to this inquiry it was an unstable derivation of income from raising 28% of tax revenue from transfer duty to fall by 14% a year later …
For those esp. ‘investors’ who buy and sell homes more frequently it is put that ‘they’ are paying for essential services and infrastructure … cough … cough …
In 2018 in NSW some 2.8 million properties yet less than 200,000 home owners contributed through ‘transfer duty’
Because most stayed in their homes for decades … is this a move to encourage (or force) people to sell out and somehow improve housing affordability …
ASK YOURSELF …
IS this Inquiry put together by the same guy that … when he was at Telstra he thought it was okay to insist all clients agree to pay their accounts by automatic deductions to retain their Telstra phone connection?
SHOULD we be wary of these ‘appointed’ persons telling us they have better ideas about collecting taxes?
CAN anyone ever remember not paying more tax?
DO these reviews ever result in us paying less tax?
WHY didn’t they put the same amount of energy into anomalies like:
-the cash economy (aka ‘hot money’ or ‘black money’)
-tax havens like so-called ‘Trusts’ (e.g. Family Trusts)
–tax loopholes like so-called ‘deductions’
THE LIST goes on …
WHAT about doing something about:
–money laundering in real estate (by implementing and enforcing the second tranche of the Anti-money laundering laws by removing the Real Estate gatekeepers exemption of Oct 2018)
–proxy buying in real estate? (ditto)
AND all the other tax evasion and tax avoidance happening across the economy?
DOES anyone believe these measures are no more than another BIG FAT TAX?
NOW … SHARE!
TO enlighten others … by Facebook … share in an email to contacts … and raise this with others to enlighten them … unless you do …. and unless we kick up a Stink … nothing can change for the better!
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