Possible land tax increase in NSW

[yo yo ma]

The NSW Government plans to increase the tax rate for people owning investment property worth more than $1.8 million from 1.6 per cent to 2 per cent.

Those owning land worth between $368,000 and $1.8 million will still pay tax at 1.6 per cent.

http://www.smh.com.au/articles/2008/11/06/1225561044295.html

 

[Nathan]

are they trying to make rents go higher in nsw??

nsw labor a f#cked up seriously... i can already see the positives though, but they are dumb as... cant wait for barry to get in soon.

 

[Sim]

Not surprising really given how much of a hole the NSW finances are in ... taxing the "rich" is an easy target - but could well be counter productive in the long run. I fear things are only going to get worse for NSW too.

 

[MattR]

NSW Labor are completey ##$@$@$!%$!%@%#%#%#%#%#@@#$)(###.

Why don't they reintroduce Vendor Duty as well.