Vic land tax relief ?

[Patosan]

Last week I saw on the net that Bracks intended to reduce land tax in some way.

What is the gist of his proposal ?
When will it be implimented ?
What do you think ?

[Aceyducey]

Patosan,

The Age has provided quite good coverage of the details:

Surprise tax cut wins approval
http://theage.com.au/articles/2004/04/20/1082395852634.html

Bracks vows $1bn tax cuts
http://theage.com.au/articles/2004/04/20/1082395854877.html


Cheers,

Aceyducey

[geoffw]

Land tax dropped from 5% to 3.5%? That's still a LOT. NSW are going to impose a 2.25% stamp duty when you sell, and a .4% tax- but people say that this will drive them away from NSW and into Victoria- where the annual tax is STILL higher than the annual plus one-off tax in NSW.

[Patosan]

Thanks guys !

Sounds pretty good 5% down to 3.5% then 3%, plus a slightly higher threshold.
I was wondering when there has been so much discussion on the NSW recent changes that the Vic case hadn't been raised.