[holmesie]

I already hold contempt for stamp duty as an outdated and irrelevant tax. And now we have this, the "Torrens assurance levy" - not a massive slug to investors, and it doesn't apply on sales under $500K, but these things can start to add up


Full article in the SMH - here

I am irked that the government can sneak things like this in under the "levy" guise

Ahhh the joys

[KISSfan]

Surely, anyone selling an applicable property will just work out this tax and add it on the sale price.

I've always hated the CGT. Not that I've had to pay it to date, but my gripe is the government should be assisting anyone trying to look after their future by investing, but they get slugged if they sell. To weed out those that 'trade properties', I'd even be happy if a sliding scale of tax was introduced. Eg, 50% discount on CGT if property held over 12 months (as is), then perhaps a furter 5% discount for every year thereafter that the property is held.

I suppose it's one of those taxes we just have to live with, along with the ever growing list of other taxes.

Regards
Marty

[holmesie]

I like your CGT proposal Marty Seems fair and logical, now why can't anyone in government see part the $ signs and apply some equitable changes