dmitchie obviously gets a buzz from this forum and ‘ stirring up a hornet’s nest”.
I wish to correct you. NSW has the most property tax than any state government. Land tax has been in the media only recently and yes it affects mostly mum and dad investors – or so the media reports.
But let me put this to you. What about these mum and dad investors who many years ago bought their holiday home/ investment property in coastal towns of NSW to help with their retirement? These people have seen a mega rise in the LT in just 2 years. They have bought these properties to be financilally independent.
LT is a robbery that impacts on the so-called wealthy ie inherited landowners around Sydney Harbour foreshore who have had to sell off family homes due to the HORRENDOUS taxes. It has also impacted on simple mum and dad investors who want to do the right thing and take charge of their financial future – but seem to be taxed each way.

So it seems paradoxical and even cruel to me that many thousands of people want to take charge of their financial destiny but, in NSW will be taxed to the hilt. At the same time we hear from all levels of govt that we need to do independent in our retirement but how can this be achievable with these taxes?Not to mention LT having adverse effects on the rental market, particularly in Sydney where the landlords are forced to pass on the costs to tenants.Maybe when you are higher in this game and still living in NSW you will realise how hard these taxes bite – you are obviously not in this league .
STOP PRESS – guess what – Bob has just announced an increase from 1.4 to 1.7 percent in LT a few minutes ago- he has really lost the plot.
No wonder everyone is moving to Qld dmitchie – you may event be able to afford a house here once you realise the damage the property taxes are doing to the NSW economy.
cmhall

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I posted my first message on this website today and after browsing through the site, came across this thread and could not believe what I was reading. ( Chill – pill guys, as my sons would sometimes advise me).However, now I feel my steam rising.

For dmitch, you ar delusional in thinking Sydney prices are falling , the prices MAY have plateaued IN SOME areas , but generally this market is the pulse of real estate, Australia wide. I own property in a very nice suburb in Sydney ( but I don’t live there) and the reason people may be leaving Sydney Or more accurately NSW are the horrendous taxes the state govt place on home- owners, property investors in this state.
Tonight’s budget will not be giving much relief to to much hated land tax, stamp duty ( which you have to pay twice!) , not to mention vendor duty.
Take a look at the bigger picture.All these taxes, particularly land tax will be the decline of NSW as a strong economy and we have already seen strong indications of this over the last year!

cmhall[blink]

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