And a new report says Brisbane home buyers would spend almost a decade paying down the taxes on a 30-year,$730,000 mortgage on a house and land package.
It has become easy for landlords and real estate agents to point to the recently expanded land tax as a reason for spiking rents. But it’s more complicated.
While being on acreage can be pleasant,the size of your property can risk stymieing your pension options.
The number of homes being leased in Victoria has fallen year-on-year for the first time since records began,while the number of new rental properties hitting the market has also plunged.
Almost $18 million of revenue from one of Victoria’s new property taxes will be eaten up this year by the infrastructure needed to administer the charge.
Treasurer Tim Pallas has agreed to concessions to secure support for his residential land tax changes,including a pilot scheme to crack down on empty homes.
A state government bid to encourage developers to build on vacant land could have the opposite effect as land tax penalties bite,construction company research has warned.
The current housing pain might feel like an acute moment,but it is really the culmination of decades of policy in which every factor has pulled in the direction of making housing unaffordable.
The property we’re in can often feel like our “forever home”,so making the call to downsize can feel like a big decision.
But the party won’t commit to axing the increase to land tax for landlords,citing the need to be fiscally responsible.
Inner West Council has also suggested banning no-fault evictions and lengthening tenancy periods to up to 10 years.