From today struggling Canberra renters will be forced to bear the brunt of ACT Labor’s land tax hikes with a $900 fixed charge as well as a percentage of the land value which will raise the government an additional $10 million this financial year. It will particularly affect units and is yet another attack by this government on housing affordability in the ACT and an unfair tax which hits the lowest end of the market hard, Shadow Treasurer Brendan Smyth said today.
“Andrew Barr is hiking land tax on units from today meaning those who are doing it tough will be forced to pay hundreds of dollars just to keep a roof over their heads. This is a fixed charge property owners will have to pass on,” Mr Smyth said.
“ACT Labor is driving up rates by 10 percent a year for people who own their own homes now the government will start slugging renters with extra costs.
“Because the government has maxed out the credit card on unaffordable and unwanted capital works projects ACT residents are being squeezed to the limit to pay for years of irresponsible economic management.
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“Furthermore, mum and dad investors will find it harder to provide for their own futures with this land tax increase. It will add to the swathe of government regulations stopping investment in its tracks and driving it across the border.
“Andrew Barr needs to rethink this tax because he is hitting Canberra families when they are struggling enough at the moment,” Mr Smyth concluded.
(Brendan Smyth Media Release)