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Property taxes delivering more and more revenue

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Your Investment Property | 02 May 2016, 08:56 AM Agree 0
More than half of all taxation revenue gathered by state and local governments in the 2014-15 financial year came from taxes on property.
  • Peter Wrigley | 03 May 2016, 04:46 PM Agree 0
    I have read the article and I don't disagree with any of the comments, however I voted for GST on the basis that Stamp Duty and Land tax would be removed amongst other state taxes. This has not happened and in the real commercial world one would be sued for misrepresentation and most likely you would have lost your shirt because of the legal costs you would have to have paid to fight such a claim. In short we were lied too and of course there is not accountability on the part of the politicians just like the Health Payroll debacle. Is it just me or was that when Labor was in power?

    All land holders are being discriminated against. Why? because there a basically only three types of assets: cash, shares and property, everything else is a derivative of these three main assets. However only one is taxed more than the others. guess? yes property.

    It would be interesting if you started charging people with cash in the bank a cash tax and shareholders a shareholders tax. It would be fairer but could you imagine the hew and cry you would hear. so lets make it fair and charge them the same as they do the poor land holder.

    OR Charge no taxes but GST at 10% plus a flat 20% income tax and you should in principal end up with a 30% tax rate. No more wastage on government employees and we could probably get rid of state governments.

    Lets starting treating our economy as a business!
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