DO you mind providing an example?
Well there's no national land tax available now is there, so that's not possible.
What i'm saying is, IF this policy is introduced it will scare off investors because of your reasoning, they cannot afford it, or they weren't prepared.
BUT the smarter ones, or better prepared will look at it optimisticly and say hey, it's going to cost us more but look, there are more properties now available in good CG areas that are within price range because no one wants to pay the extra tax, also there are more tenants because they don't want to pay extra tax on their house, which in turn increases rents.
So for the well prepared investor, this *COULD* be a great opportunity to increase their portfolio and rents providing them with greater in 2012 (as an example) than they were aiming for.