Tasmanians face land tax hike

Font size :

By Robert Carry

Home-owners across Tasmania are facing a major land tax charge after government advisory body the Business Tax and Regulation Reference Group posted a submission to the federal taxation review recommending the move.

According to The Mercury newspaper, the group has recommended major changes including making land tax payable by all landowners, not just those with a second property.

The group, chaired by business consultant Keith Stacey said in it's report, "Such a tax would not be determined solely by the property value; that is, it would include a component that does not vary with property value but may vary with the number of adult residents."

The report also called for an examination of the viability of state-based income-tax surcharges on top of centrally administered income taxes.

The report comes in the wake of a rash of complaints and protests over newly restructured land tax bills for businesses and multiple property owners triggering increases of more than 150% in some cases.

Opposition to the plan has been widespread with Liberal Treasury spokesman Peter Gutwein saying a broadening the tax base to include the family home would be "absolutely unacceptable for all Tasmanians". He added, "I don't think anyone would support that."

It can be confusing to know whether to get a variable rate or fixed rate mortgage, and what features are important. That's why it's important to not only check the right rates, but make sure that you're getting the right features in your home loan. Get help choosing the right home loan

Mortgage News and Articles

How to tell when a housing market is cooling How to tell when a housing market is cooling

You need to check clearance rates, listings, and the price gap, among other factors Read more

Growing demand for green apartments in Sydney Growing demand for green apartments in Sydney Both owner-occupiers and investors favour eco-friendly buildings for their energy-saving features and reduced environmental footprint ... Read more

Are property investors as rich as they appear? Are property investors as rich as they appear? A multi-property portfolio doesn’t guarantee easy millions ... Read more

Be proactive about getting a better mortgage deal Be proactive about getting a better mortgage deal Apathy could be costing you a considerable amount of money over the lifespan of your loan ... Read more

More mortgage news and articles

Sponsored Links

Thursday, Sep 21, 2017
Top Featured Rates
Top Bank Rates

Get help choosing the right home loan

Let us help you find the right home loan for your needs.

Tell us a bit about your circumstances:
  • Purpose of mortgage
  • Household Income
    $
  • How much do you want to borrow?
    $
  • How much deposit do you have?
    $
  • How much is your house worth?
    $
  • How much do you still owe on your mortgage?
    $
  • What type of mortgage do you have?


  • How much is your new home?
    $
  • How much do you want to borrow?
    $
  • How soon do you want a mortgage?
Next
  • First name
  • Last name
  • Where do you live?
  • Phone number

Special Offers

Related Keywords