Rezoning Superprofits Should be Taxed

Discussion in 'Accounting & Tax' started by House, 13th Oct, 2015.

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  1. House

    House Well-Known Member

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    According to a former tennis star...

    Property Update

    A friend knew someone in council who told him about rezoning for a motorway which influenced where he bought. Once the motorway was announced, the price of his and all the surrounding houses jumped $75k+ so would be a nice tax grab/levy if such a "value-capture" system was introduced.
     
    House, 13th Oct, 2015
    #1
  2. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

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    Valuation taxation models keep raising their heads from time to time. Govt wants a cut of any pie it can find. Remember the resources super profits tax...Same thing but poor timing. Missed it by several years.

    Capital Gains Tax is a great example. Keating introduced it to fill a budget void.
     
    Paul@PAS, 13th Oct, 2015
    #2
  3. Scott No Mates

    Scott No Mates Well-Known Member

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    What about those who sell their ppor which was rezoned High density from floodprone R2?
     
    Scott No Mates, 13th Oct, 2015
    #3