A $5.2 billion hole blasted in the state budget by the real estate downturn has forced the Andrews Labor government to launch a tax raid on property owners, gold-miners and luxury car buyers to help make ends meet.
Up-market car buyers will be hit for $260 million over four years with an increase the duty on new and second-hand luxury motors worth more than $100,000, with the tax hike to be phased in from 1 July.Farmers and grey nomads will escape the new tax, the government says, with caravans, motorhomes, low emission cars, ‘primary producer passenger vehicles’ and dealer demonstrators all exempted.
About 1700 blocks of land across metropolitan Melbourne will be hit by the scrapping of the tax exemption for vacant land attached to the family home.
niremas Land Tax, simples.
That Billion Dollars in damages for not building a tunnel is looking dumber by the day
niremas This is what happens when you depend on stamp duty. This could have been seen a mile a way
niremas Maybe the fools shouldn't have /relied/ on the damn taxes in the first place? It was never sustainable. What crazy money they got should've been tucked into a warchest. Can we go back & demand more taxes from the foreign investors too? It took far too long to notice them?
It’s great idea to tax vacant properties and high tax on foreign investors! Good on you Daniel.
Then why did Channel9 news just say that property prices are again heading up on the back of the election result? Is this just spin? By the way don’t you both have the same owners?
When our household incomes drop we have to reduce our spending. Why can’t our governments do the same. Stop pissing money away on crap.
Bit like the old poker machine tax addiction. Well there is always the franking credits lol
oh here we go, it's starting labourites. See what you've voted in! A budget is a budget, l don't know about you but when l budget l allow for ups and downs. Surely the state treasurer allowed for this boom to end, they don't last. What about all the fwee stuff give away
Everybody will go broke in socialidm. Some sooner some later
What just print money.
Can’t wait for the next Victorian election. Greedy high taxing Labor govt will be toast! Australians want smaller governments and less tax! Victoria DanielAndrewsMP auspol
Thats what happens with a socialist environment, tax tax tax, take take take - eventually it comes home to roost ! At least we dodged a bullet with Shorten. Andrews not so lucky
What’s a bet these new taxes won’t be removed when stamp duty revenues peak again. State governments were delighted with years of high stamp duty revenue. They have become greedy and fat! Live within your means or we will vote you out! auspol Victoria NSW stampduty
I wish state governments would live within their means. We certainly have to! There will be years of high stamp duty revenue and years when it is less. Taxpayers pay enough already.
Victoria-the state of excitement
Sparking need to restrain spending
Collapse? Record high levels cannot be expected to continue - a return to normal levels should not create a hole.
We need new govt too with immediate effect
Stamps duty on housing is a double tax that should be removed and is killing the market as people justly don't want to move property if not necessary as the tax is unjustified and very high. Already citizen had pay they tax income, GST and stamps duty should be removed.
Schools and hospitals are major state expenses. Labor offered more funding, the Liberals didn't. Now state governments are raising revenue by increasing taxes and charges. It is responsible, necessary and bi-partisan (SA is doing it to). It is what we voted for. auspol
Awesome!! I bet that stings a bit!!!!
Australia has the highest private debt per capita on earth. When majority of its citizens cannot manage their own income versus expenses, it’s hardly a surprise the politicians can’t either. What are the citizens going to say? Being just as guilty!! Best country in the world 🙄
We need secure jobs via a more diverse economy. VoteSustainable Vote for SustainableAustralia auspol ausvotes ausecon
What a fucking surprise. Gj libs
Removing the off the plan stamp duty concession to investors, hitting foreign investors with a further 8% surcharge, 2% vacant land tax, 2.25% land tax, GST on all of that - it’s hilarious that he thinks they will raise the numbers they’re quoting - foreign buyers have gone
$2billion written off on a road that was never built! That is nothing short of criminal. Andrews will always look after his union mates so has no choice but to keep rolling out the big infrastructure projects because he knows the apartment market has imploded!
Taxes, taxes and more taxes under the ALP. They have sold off the remaining state assets, the private sector don’t want to known them and so the only way forward is to tax us all into oblivion. What a joke - the property market will not recover, foreign investors have gone
Bump it on at the Airport. $20 extra for every non citizen entering the country. Those from commonwealth countries free.
Has Dan Andrews attracted ANY industry or new jobs to Vic that aren’t for the benefit of the CFMEU? Labor’s only solution to any problem is to just tax something else.
Reminds me of the lyrics of the old Beatles song Taxman, nothing's changed.
the states promised they would get rid of stamp duty when GST came in. LOL
How about a cut to parliament expenses like travel accommodation super above the minimum etc etc why keep slugging ave Australians
you voted this lying a-hole in and expected anything less
Narwee2209 Victoria already has a residential vacancy tax. If Prosper_Oz is right about high vacancy rates, maybe it’s time the state tax was enforced.
To bad! A much bigger correction is needed.
Ahhhhhhhhhhhhhhhhhh Where's the money.😁 honey😂😂
How about review and cut of Andrews Government toxic Premiers Office - and costs.
This is what socialist governments do. Spend all the money then tax even more. Vote him out before he wastes more of your money on social engineering and non existent roads.
Excessive spending and living for the day from Andrew's labor government. What a moron, learned nothing from Labor's Kirner/Cain economic disaster a few decades back. Public service looks like getting massive cutbacks first I reckon.
No thats where gov must reduce government only Liberal Democrats in favour of that.
omg
Labour is ruining our state... increase taxes, cancel infrastructure plans at the cost of over a billion dollars !?!? Disgraceful
Like taxing email? Lol
What happened to the market turn around?
The cycle of Labor. Promises the world, delivers more tax and debt.
...and this is why the budget wasn't released until after the election
How about you just don’t spend almost $2 billion on a new prison!
This is why the budget was delayed post election DanielAndrewsMP VictorianLabor shame on you!!!
They knew this was going to happen at the last election yet they promised to continue to spend.
Why doesn’t it spark a need for less spending?
so they robbed everyone for years and years and now when the rort dries up they have to get everyone with something else
And when property picks up again do we see any tax relief? Heck no.Crack down on all rhe waste and rorts and you might be surprised.
Why doesn’t the premier be prudent with spending
I see you are not allowing comments on the article on this one... seriously you are a disgrace!!!😡
Hello fellow Victorians. You voted for these clowns, no?
How about slowing spending? Hit us again typical LABOR!!!! Tax tax tax
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