In its latest budget, the NSW Government has laid the foundation for a global best-practice model for major transport funding. Zoom Webinar: Wednesday, July 28th 12:30pm While Victorian’s woke up on budget day to a surprise rezoning windfall gains tax, the NSW Government has been quietly swimming in the same direction. The NSW approach places […]
Media Release REZONING WINDFALLS COULD FUND RECORD PUBLIC HOUSING SPEND EACH YEAR A new report on landholder profits following the rezoning of the Fisherman’s Bend precinct showed an average 368% windfall gain per square metre, or $4.43bn. Prosper Australia research director Emily Sims says recent uproar over the introduction of a windfall gains tax demonstrates […]
Renegade Economists Show 596 As broadcast on the 3CR airwaves 6 – 6.30pm on the fourth Wednesday of the month. Subscribe to the monthly podcast. Show Notes Select highlights from the last year focusing on society’s basic survival mechanisms. A good home, an effective means of protecting our community from rampant change and satisfactory medicine. […]
Prosper’s latest report scrutinises the rezoning windfalls at Fishermans Bend. Tuesday, 29 June 12:30pm Online event. Register for zoom link Join report authors Emily Sims and Jesse Hermans, with special guest Cameron Murray. Most of us feel that it is intuitively fair to reward enterprise and effort. We rush to work to pay taxes so […]
Homebuyers might be wary of taxing rezoning windfalls, because they worry it will increase the sticker price of housing. The property industry says that taxing rezoning windfalls will increase the cost of housing because the tax will be passed on. They also say that in response to the new tax developers will shut up shop, […]
The Victorian Treasurer’s recent housing policy announcements delivered an odd sense of hope for affordability wonks. The state finally saw fit to place extra tax burdens on the property sector with an increase in land taxes, stamp duties and importantly, on rezoning windfalls. The cumulative taxes will raise $2.4 billion over four years. Whilst the […]
Renegade Economists Show 595 As broadcast on the 3CR airwaves 6 – 6.30pm on the fourth Wednesday of the month. Subscribe to the monthly podcast. Show Notes Karl is joined by his colleagues Emily Sims & Jesse Hogan to pull apart property lobby spin in light of the recent Victorian Budget. We actually had a […]
LAND TAX DRIVES STABILITY Changes to land tax and the introduction of a windfall gains tax will drive stability in the Victorian housing market, according to Victorian economics research group Prosper Australia. Prosper advocacy director Karl Fitzgerald says the property lobby’s outcry is the reaction of an industry group caught with its hand in the […]
I was once told by a senior industry practitioner in a post-graduate property lecture: “The best way to make money in this game is to buy a piece of farm land on the urban fringe and lobby to have it rezoned.” Totally rational approach given the pot of honey in the Planning Ministers tick. The […]
Until recently, no government had a “cogent plan” to deal with impending combustion of Commonwealth fuel excise revenue. But now Victorian Treasurer Tim Pallas has risen to the challenge both to future proof Victoria’s road charging regime, and make Zero and Low Emissions Vehicles (ZLEVs) a more affordable choice for drivers. Public roads require significant […]