Australian Politics Forum - Universal Land Tax for Australia?

Kiron22 Gold Member Offline Australian Politics Posts: 896 Gender:	Universal Land Tax for Australia? Dec 23^rd, 2015 at 7:09pm arguments against?
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Swagman

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Re: Universal Land Tax for Australia?
Reply #1 - Dec 23^rd, 2015 at 8:58pm

Kiron22 wrote on Dec 23^rd, 2015 at 7:09pm:

arguments against?

.....one or two

you must like the idea, so it must be a commie plot to bring down the capitalists and for world domination

Land owners (purchasers) already pay land rates. Which is just land tax.

Most already have progressive income tax extorted from their reward for risk and efforts. They are taxed enough already

Most have acquired their land using their hard earned which they have already paid friggin tax on

That guy was a full on drop kick and anything he thinks is a good idea has to be the total opposite

Property prices are inflated in the main because Boomers are investing their retirement savings into property because the share market is too volatile and the cash rate is too low. They can get both an income and a growth asset to fund their retirement. Not some stupid conspiracy theory from the student union brainwash sessions

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Its time Gold Member Offline Boot libs out Posts: 25639 Gender:	Re: Universal Land Tax for Australia? Reply #2 - Dec 23^rd, 2015 at 9:10pm https://www.prosper.org.au/ Excellent idea
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Bam

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Re: Universal Land Tax for Australia?
Reply #3 - Dec 23^rd, 2015 at 9:15pm

Swagman wrote on Dec 23^rd, 2015 at 8:58pm:

Kiron22 wrote on Dec 23^rd, 2015 at 7:09pm:

arguments against?

.....one or two

you must like the idea, so it must be a commie plot to bring down the capitalists and for world domination

Attacking the source of an argument does not refute the argument.

Swagman wrote on Dec 23^rd, 2015 at 8:58pm:

Land owners (purchasers) already pay land rates. Which is just land tax.

Council rates fund council services such as garbage collection and maintenance of local roads.

Swagman wrote on Dec 23^rd, 2015 at 8:58pm:

Most already have progressive income tax extorted from their reward for risk and efforts. They are taxed enough already

A counter-argument: people who buy property are taxed heavily on purchase with stamp duty, but pay nothing thereafter apart from council rates. Introducing land tax would allow stamp duty to be reduced to more sensible levels and provide a much-needed broadening of the tax base.

Swagman wrote on Dec 23^rd, 2015 at 8:58pm:

Most have acquired their land using their hard earned which they have already paid friggin tax on

That is how the GST works. Does that mean you are opposed to the GST? Huh

Swagman wrote on Dec 23^rd, 2015 at 8:58pm:

That guy was a full on drop kick and anything he thinks is a good idea has to be the total opposite

Attacking the source of an argument does not refute the argument.

Swagman wrote on Dec 23^rd, 2015 at 8:58pm:

Property prices are inflated in the main because Boomers are investing their retirement savings into property because the share market is too volatile and the cash rate is too low. They can get both an income and a growth asset to fund their retirement. Not some stupid conspiracy theory from the student union brainwash sessions

Irrelevant.

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Bam

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Re: Universal Land Tax for Australia?
Reply #4 - Dec 23^rd, 2015 at 9:34pm

Implementing land tax would be a good idea if it replaced stamp duty.

The current tax regime is inefficient and unbalanced. People often pay tens of thousands of dollars to change houses, which they often must do for work reasons. The punitive tax on moving house also causes people to hold on to houses they would be better off selling (eg: empty nesters) and it causes the housing stock to be inefficiently allocated. Meanwhile, other people who hold on to houses for decades pay no tax at all.

Introducing land tax and reducing stamp duty to a level that only covers the administration costs of the title transfer would broaden the tax base and allow housing stock to be allocated more efficiently.

See also: Chapter 6: Land and resource taxes (Henry Tax Review, December 2009)

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oh dear Gold Member Offline Australian Politics Posts: 715 Gender:	Re: Universal Land Tax for Australia? Reply #5 - Dec 23^rd, 2015 at 9:34pm I cant see rents not skyrocketing, zero chance a landlord would absorb this cost.
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John Smith Gold Member Offline Australian Politics Posts: 74966 Gender:	Re: Universal Land Tax for Australia? Reply #6 - Dec 23^rd, 2015 at 9:58pm Bam wrote on Dec 23^rd, 2015 at 9:34pm: Implementing land tax would be a good idea if it replaced stamp duty. that's a very big IF .... the govt. is so dependent on stamp duty it would want to keep both. Look at NSW, they have a land tax and you still pay stamp duty
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oh dear

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Re: Universal Land Tax for Australia?
Reply #7 - Dec 23^rd, 2015 at 10:02pm

John Smith wrote on Dec 23^rd, 2015 at 9:58pm:

Bam wrote on Dec 23^rd, 2015 at 9:34pm:

Implementing land tax would be a good idea if it replaced stamp duty.

that's a very big IF
.... the govt. is so dependent on stamp duty it would want to keep both. Look at NSW, they have a land tax and you still pay stamp duty

JS I live in NSW whats this lands tax ?

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John Smith

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Re: Universal Land Tax for Australia?
Reply #8 - Dec 23^rd, 2015 at 10:03pm

oh dear wrote on Dec 23^rd, 2015 at 10:02pm:

John Smith wrote on Dec 23^rd, 2015 at 9:58pm:

Bam wrote on Dec 23^rd, 2015 at 9:34pm:

Implementing land tax would be a good idea if it replaced stamp duty.

that's a very big IF
.... the govt. is so dependent on stamp duty it would want to keep both. Look at NSW, they have a land tax and you still pay stamp duty

JS I live in NSW whats this lands tax ?

payable on investment properties over a certain amount.

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oh dear

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Re: Universal Land Tax for Australia?
Reply #9 - Dec 23^rd, 2015 at 10:08pm

John Smith wrote on Dec 23^rd, 2015 at 10:03pm:

oh dear wrote on Dec 23^rd, 2015 at 10:02pm:

John Smith wrote on Dec 23^rd, 2015 at 9:58pm:

Bam wrote on Dec 23^rd, 2015 at 9:34pm:

Implementing land tax would be a good idea if it replaced stamp duty.

that's a very big IF
.... the govt. is so dependent on stamp duty it would want to keep both. Look at NSW, they have a land tax and you still pay stamp duty

JS I live in NSW whats this lands tax ?

payable on investment properties over a certain amount.

So an extra tax on top of CGT?

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John Smith

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Re: Universal Land Tax for Australia?
Reply #10 - Dec 23^rd, 2015 at 10:19pm

oh dear wrote on Dec 23^rd, 2015 at 10:08pm:

John Smith wrote on Dec 23^rd, 2015 at 10:03pm:

oh dear wrote on Dec 23^rd, 2015 at 10:02pm:

John Smith wrote on Dec 23^rd, 2015 at 9:58pm:

Bam wrote on Dec 23^rd, 2015 at 9:34pm:

Implementing land tax would be a good idea if it replaced stamp duty.

that's a very big IF
.... the govt. is so dependent on stamp duty it would want to keep both. Look at NSW, they have a land tax and you still pay stamp duty

JS I live in NSW whats this lands tax ?

payable on investment properties over a certain amount.

So an extra tax on top of CGT?

Yes ... I moved from NSW 8+ yrs ago, so not sure if it's changed in the meantime, but prior to that I was paying almost $1500 a year in land tax and I still had to pay the CGT when I sold the property. (I had paid the fall amount of stamp duty when I purchased it too).

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Our esteemed leader:
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Bam

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Re: Universal Land Tax for Australia?
Reply #11 - Dec 24^th, 2015 at 7:31am

John Smith wrote on Dec 23^rd, 2015 at 9:58pm:

Bam wrote on Dec 23^rd, 2015 at 9:34pm:

Implementing land tax would be a good idea if it replaced stamp duty.

that's a very big IF
.... the govt. is so dependent on stamp duty it would want to keep both. Look at NSW, they have a land tax and you still pay stamp duty

NSW Stamp duty - inefficient narrow tax on people moving house
NSW land tax - narrow tax on investment properties

The land tax should be broadened to cover all properties and stamp duty on property transfers lowered to about $500 to $1000. If done correctly, the broadened land tax replaces stamp duty as a major source of revenue.

The Henry tax review recommended a tax-free threshold based on value per square metre for land tax so low-value land is exempt, such as land under primary production.

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You are not entitled to your opinion. You are only entitled to hold opinions that you can defend through sound, reasoned argument.

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Swagman Gold Member Offline Beware of cheap imitations...... Posts: 15095 Illawarra NSW Gender:	Re: Universal Land Tax for Australia? Reply #12 - Dec 24^th, 2015 at 7:31am John Smith wrote on Dec 23^rd, 2015 at 10:19pm: Yes ... I moved from NSW 8+ yrs ago, so not sure if it's changed in the meantime So it's your fault we can't win the origin any more?
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aquascoot Gold Member Offline Australian Politics Posts: 34963 Gender:	Re: Universal Land Tax for Australia? Reply #13 - Dec 24^th, 2015 at 7:34am This would be a disaster for the scooter. but, then again, it may lead to selling pressure and buying opportunities.
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John Smith Gold Member Offline Australian Politics Posts: 74966 Gender:	Re: Universal Land Tax for Australia? Reply #14 - Dec 24^th, 2015 at 8:49am Swagman wrote on Dec 24^th, 2015 at 7:31am: John Smith wrote on Dec 23^rd, 2015 at 10:19pm: Yes ... I moved from NSW 8+ yrs ago, so not sure if it's changed in the meantime So it's your fault we can't win the origin any more? you've no idea how hard it is living here at origin time
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