Townsville tax payers connected like city residents North Queensland and Townsville tax payers are being targeted by the Productivity Commission in its draft report on Remote Area Tax Concessions and Payments, that the zonal tax concessions should be abolished. The Productivity Commissioner, Jonathon Coppel said businesses and individuals receiving tax concessions and
Taxation
Taxation category
Stamp duty tax grab; REIQ scathing of Queensland government and calls for 100% abolition
Stamp Duty Tax needs abolition The Real Estate Institute of Queensland is scathing of the Queensland Government’s cash grab from the property sector from its stamp duty tax increases, saying an extra $273 million in revenues has been collected and it has reduced the affordability of housing across Queensland. Australian Bureau of
Property developers targeted for ‘phoenixing’ by federal government
Taxation legislation mitigating property developers burdens residential buyers Property developers acquiescing to proper and timely GST remittance has prompted the federal government to strengthen taxation compliance in order to secure revenues to the Australian Taxation Office (ATO), presenting a new Bill to the parliament that delivers on the government's 2017-2018 Budget
Queensland taxation changes stifling property industry confidence: Property Council
Investor confidence in Queensland taxation debate The ANZ Property Council of Australia's latest confidence survey has recorded a drop of two index points for Queensland in the March 2018 quarter since the State election due to unfavourable taxation changes. In the peak industry bodies press release, the Property Council announced that "The
Property industry in Queensland Labor state of taxation uncertainty
Property industry uncertainty The Property Council of Australia has warned the property industry that the industry faces unwelcome uncertainty in Queensland on the back of the Labor party’s win at the State election. The peak industry body for the property sectors fears two big new taxes on land acquisitions and foreign investment
Homeowners claiming tax deductions for rentals increasing
Increasing tax deductions for homeowners The percentage of homeowners claiming tax depreciation on plant and equipment has increased in the past financial year due to owners turning their homes into rental properties. The growth of homeowners renting rooms, using the share accommodation portals such as Airbnb or choosing to rent instead of
How government have widened the gap between generations in home ownership
Various government policies have fuelled the demand for housing over time, expanding the wealth of older home owners and pushing it further and further beyond the reach of young would-be home buyers. A new study highlights this divide between millennials and their boomer parents. The study is part of a Committee of Economic
Veteran Diggers fall victim to national housing scheme spruiker
Veteran Diggers that served in Iraq and Afghanistan have fallen victim to the lure of promised returns from National Rental Affordability Scheme (NRAS) residential housing projects promoted by a spruiker working on commissions with the National Australia Bank and property developers. As many as two hundred Aussie veterans lost up to
Taxing empty homes: a step towards affordable housing, but much more can be done
Vacant housing rates are rising in our major cities. Across Australia on census night, 11.2% of housing was recorded as unoccupied – a total of 1,089,165 dwellings. With housing affordability stress also intensifying, the moment for a push on empty property taxes looks to have arrived. The 2016 Census showed empty property numbers up by 19% in Melbourne
Botched media coverage or Turnbull spin?; negative gearing in federal budget
Now that the fine print of the Turnbull-Morrison federal budget has been digested, the real extent of the damage likely to impact property investors can be brought to light for full consideration. Even though the Turnbull government must negotiate the Federal Budget Bill through the Senate, the nominal federal budget measures