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.
“We need to grow our economic recovery from the bottom and the middle out, and that’s exactly what this budget is seeking to do, it’s seeking to target those who need help with the support they need, and seeking to make sure that those who have the capacity, who are making substantial profits at the moment make a modest contribution to the wellbeing of our community,” he said.
“Tax hikes will cheat Victorians out of the economic recovery we are just starting to enjoy,” she said.
Ash_McMillan That's the idea to recovery. Squeeze dry every Aussie in housing market and the likes to boost the economy.
Ash_McMillan Oh boo hoo for the Property Developers
Ash_McMillan 🤡
Ash_McMillan The Daniel Andrews govt CANNOT manage money
Ash_McMillan That's a big Could!
Ash_McMillan BS, the property sector is full of govt stimulus. Its time they paid there way.
Ash_McMillan Yeah nah...pay the taxes
Ash_McMillan Ninefax giving platforms to selfish morons to peddle failed neoliberalism economics. What’s new?
Ash_McMillan Woke Premier Danni Andrews has always blamed Victorians for his Covid failure - so it fits he now punishes with increased fines and taxes. What a miserable, useless state government. springst
Ash_McMillan Well if the property industry is upset, it must be a good thing.
Ash_McMillan So ... rich people shitting on poor people again ... Business as usual
Ash_McMillan Land tax should increase more with every 2nd, 3rd, etc property. Especially long held properties where there is no investment... to blow that “it encourages investment” rubbish argument
Ash_McMillan It will not. Bugger all home buyers spend more than $2m
Ash_McMillan Yeah. Right. Developers.
Ash_McMillan Did anyone see an article by Age criticising Scomo for giving Taxpayers money to rich corporations?