Land Tax in Victoria

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From: Anonymous


Any more news on how this will affect small time investors like us?
 
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Reply: 1.1
From: Anonymous


Thanks Jude. There's nothing really there to speculate a "What if" scenario. ie. What if we are slugged with a 2.94% tax on land which the Victorian government is proposing. On a $250,000 land value, that's over $7,000 a year. Do you think this will have a negative impact and scare investors interstate\shares etc. On a property that yields $13,000 per year, land tax would average about $6,000. That's $7,000 gain all up per year. About a 3-4% yield after all taken into consideration. I can get 7% in the bank. Ahh, growth, yes but we will be forced to pay tax on growth too. Mr Bracks is making it very hard for us. There's got to be another way. I hope this does not get passed. Will investors look elsewhere? How about some brain storming on potential "what if" guys.
 
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Reply: 1.1.1
From: Jude H


Deve was telling me about Bracks being on 3AW this morning. Am going to find out what he said and post it here.
 
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