Extracted from Dazz's post:
What it does state on point # 25 of their Economic Justice policy adopted November 2012 is this ;
Quote:
Taxation reforms that improve housing affordability by no longer rewarding speculation and reducing asset inequality.
What does "reducing asset inequality" mean exactly ??
I think I might make a recommendation to Adam Bandt on how to expand this that should attract a lot of Green and Labour voters.
I suggest that there is a 0.2% annual levy imposed on all residential property holdings apart from the PPOR and calculated on the gross value of all combined residential property holdings in Australia.
The money raised from this could be allocated directly into an infrastructure fund used solely for the purpose of building affordable state housing.
This would reduce property speculation and simultaneously increase supply of housing. As in Singapore part of the new property supply developed could also be sold to first home buyers at a capped income level.
What it does state on point # 25 of their Economic Justice policy adopted November 2012 is this ;
Quote:
Taxation reforms that improve housing affordability by no longer rewarding speculation and reducing asset inequality.
What does "reducing asset inequality" mean exactly ??
I think I might make a recommendation to Adam Bandt on how to expand this that should attract a lot of Green and Labour voters.
I suggest that there is a 0.2% annual levy imposed on all residential property holdings apart from the PPOR and calculated on the gross value of all combined residential property holdings in Australia.
The money raised from this could be allocated directly into an infrastructure fund used solely for the purpose of building affordable state housing.
This would reduce property speculation and simultaneously increase supply of housing. As in Singapore part of the new property supply developed could also be sold to first home buyers at a capped income level.