Labor will cut land tax
- Labor will abolish land tax at $100,000 and below
- Tax cuts up to four times greater than Liberal plan
- Labor is working for Tasmanians to deliver better housing outcomes
Labor Leader Rebecca White said Labor’s plan to reduce land tax would place downward pressure on rent while helping out landlords and shack owners.
“A majority Labor Government will deliver big land tax cuts for all land taxpayers with holdings of up to $3 million,” Ms White said.
“These cuts will have a focus on shack owners, ‘mum and dad’ investors and landlords in the lower and middle tiers of the rental market.
“The cuts will ease the cost of living pressures on small land owners and provide incentives for medium scale property investors to cap or reduce rental increases.
“Under a Labor Government, foreign land owners will be required to pay more tax, because Labor’s priority will always be looking after Tasmanians who need housing first. But agricultural land will be exempt from the foreign ownership surcharge.
“Our plan will help make the land tax system fairer and place downward pressure on rents.”
Shadow Treasurer David O’Byrne said Labor’s plan will:
- abolish land tax at $100,000 and below
- cut land tax by 60 per cent between $100,000 and $150,000
- cut land tax by 40 per cent between $150,000 and $350,000
- cut land tax by 35 per cent between $350,000 and $500,000
- and cut land tax by 20 per cent between $500,000 and $1 million
“Labor’s land tax cuts are up to four times greater than those announced by the Liberals and Peter Gutwein,” Mr O’Byrne said.
“This policy will result in 60,000 land tax accounts having their tax abolished and over 150,000 land tax accounts getting cuts ranging from between $450 and $2300 per year.
“Labor’s changes are fair, with the biggest percentage of cuts being at lower land values and effective land tax rate cuts greater for small landholders.
“Only Labor is working for Tasmanians to deliver better housing outcomes.”
Rebecca White MP
David O’Byrne MP