Hi Everybody,
Has anybody seen the new land tax retes in Victoria for 2005? Check them out at http://www.sro.vic.gov.au/sro/srowebsite.nsf/taxes%20rates.htm?OpenPage&charset=iso-8859-1#land. Am I reading this correctly? The total Unimproved Value on our investment properties in Victoria last year was $264,000 (we paid a total of $328.00 in land tax). This year I calculate that we will be paying $13,000!! How do other people feel about this outrageous hike in land tax?
Rgds
AndreaAndreaw,
UI Value $264,000
$200,000 – $539,999: $200 plus 0.2 cents for every $1 of the value that exceeds $200,000Therefore (64,000*0.002)+200 = 328
I think you calculated based on 20 cents or 0.2. Because it was nominated in dollars, 0.2 cents is actually 0.002 dollars
If LT was $13,000 for your example, there would be mutiny in the streets!!
Thanks Woodman, that’s a huge relief. I had visions of selling up everything to pay the tax bill
Rgds
AndreaThe Governments Land Tax Policy, is just another obvious sign the current State Government is arrogant and in need of ousting.
To justify some of the Land Tax increases, by repeated comments that, “Victoria still has one of the lowest LT % in the country” is just another way of proving their arrogance.
Could they chane the legislation? Of course they could, but like everything else, the people need to stand up and say enough is enough.
Just because my property has increased in value, doesn’t mean i have extra cash on hand, to get that cash, i have to sell the property, and who will by it if the LTB is $2000 a week?
It’s a joke that we as a society must change, revenue from LT doesn’t keep the economy moving, it will in fact create more debt, less small businesses, less jobs, etc.
It’s high time the Mirror Man had a good look at himself and his policies, before the next State election, only a fair and just system of LT should be accepted by Victorians, anything else just wont do.
We should be organising mass rally’s in protest at this, and show support for the business owners that are being victimised by this Governments short sighted grab for cash, and it’s one sided view of democracy…..
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