general investment confidence in the State.”
Speaking with Carly Douglas in the Herald Sun today regarding Premier Ben Carroll’s review of foreign property taxes, my assessment was straightforward:
“It’s galling to see the government that made these poor decisions in the first place act like it is delivering the solutions.”
Treasurer Colin Brooks announcing what is a mere tweak of the rules of just two taxes, at a Property Council Victoria lunch, just 45 days from an election, is the definition of fiddling around the edges.
That and a promise to review the suite of stifling property taxes – post the election, of course.
With government charges now consuming 42% of a new home, minor exemptions will not restore #feasibility or restart stalled projects.
Whoever wins next month’s State Election must eliminate uncompetitive, distortive taxes to restart #housingsupply, not just tweak the margins.
🤔You cannot tax more housing into being, and you cannot rebuild investment confidence by effectively maintaining the settings that crushed it.