A report from Victoria's Parliamentary Budget Office, commissioned by the state opposition, shows Victorians will pay around $450 more property tax than people in New South Wales next financial year.
The state opposition says the high tax rates will affect housing affordability
In comparison, people in New South Wales will pay around $1,650 and Queensland residents will pay around $1,340. "This reliance on land tax partly reflects lower revenue from other sources, such as commonwealth grant revenue and royalties," the report said. "It means fewer homes, it means as property owners are slugged with higher land tax bills less and less homes are going to come into the rental market and that's not going to fix our housing supply shortage in Victoria."The government announced in the state budget in May that the threshold for Victoria's land tax will be lowered from $300,000 to $50,000.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New report reveals Victorians' property tax nightmare to worsenVictorians face the highest taxes on properties across the nation which will continue to soar from 16.3 to 17.4 per cent, according to a new report.
Read more »
Storm surges could hit Southbank as wild, windy weather crosses VictoriaStorm surges might hit popular Melbourne promenades, and blizzards are forecast for Victoria’s alpine region on Saturday as a cold front crosses the state, bringing damaging winds and possibly the highest tide in almost a decade to the city.
Read more »
Victoria’s health department to experience less funding and job cutsVictoria’s health department has been issued an ultimatum – slash funding or get rid of jobs. Video obtained by the Herald Sun show the health department’s boss advising staff that major spending cuts are on the cards for the sector. Euan Wallace says the Andrews Government are seeking new ways to bring the books back into balance as it attempts to save $175 million across the public service. The government says they’re rebalancing public service to pre-pandemic levels; however, frontline services are not affected.
Read more »
Key inquiries left in limbo by government’s failure to respondLabor has been accused of wasting money and treating people with contempt after failing to respond to a number of key reports, including one that recommended solutions to the state’s escalating homelessness crisis.
Read more »
Cost of living relief? Ukraine aid? Here's what the $19 billion budget surplus could buyAustralia is on track to hit a record budget surplus. Where do you think the money should go? Tell us in the comments.
Read more »