Fears are high that the business sector could be hit again with higher taxes in the May 23 budget amid whispers of a property developer levy for social housing.
The property sector is warning the Andrews government against imposing any new taxes or levies on the industry, amid fears the business sector will be called on to bail outFears are high that the business sector could be hit again with higher taxes after federal Treasurer Jim Chalmers indicated that he was
The fears come as data released by the Australian Bureau of Statistics last week revealed that Victoria had overtaken NSW as the highest taxing state per capita, with taxpayers paying an average of $5638 in 2021-22, compared with $5537 in NSW. “The overreliance on property-related taxes, particularly with stamp duty, comes at a cost to the building and construction industry and housing affordability more broadly.”which was due to receive $5 billion each from the federal and state governments has been delayed – declined on Sunday to comment on new taxes but confirmed that social housing was a priority.
“We’re having extensive consultations and discussions, in terms of making comments about what announcements may or may not be made, I’ve got nothing to comment on,” she said. “But we know we have to address the challenge of providing more houses for more Victorians.” The Victorian and federal governments are making a big push to build more social, affordable housing.The CEO of the Victorian Chamber of Commerce and Industry – which last year commissioned a report which found the state to be
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