Interested to hear people thoughts on the few things been released from the state budget in Victoria so far
https://www.news.com.au/finance/economy/australian-economy/n…
Obviously not the most reliable news source but:
- new tax of minimum of $500 per investment property and up to $975 + 0.1% value of the land over $300k
- payroll tax increases by 0.5% for over $10M in payroll and 1% for over $100M
Now not saying landlords don't have a spare $500 per property per year but this will all but certainly be passed on.
Same goes with payroll tax, the 0.5% or 1% will just come off employee salaries in some way or another.
The government blamed this somewhat on their surprise on interest rate rises (which the everyday person is coping too) and their solution is to add to the fire of rising cost of living by just taking more.
Do you think this is going to become the new normal where government screw up and the people pay for it?
If this helps curb the rate of property investors snatching up the majority of properties, and helps put more families in their own first homes instead of being forced to rent indefinitely, it's a win in my book.