State Government risks broken election promise with vacancy tax
A tax on vacant properties to assist families fleeing domestic violence would break the State Government’s pre-election commitment not to introduce new taxes, according to the Property Council.
Government is considering a proposal by Launch Housing to raise funds for social housing programs by taxing properties left vacant for 12 months or longer. Income generated from this scheme, is estimated to be about $79 million a year.
The Property Council believes that any such move would amount to a broken promise and would be another tax on an industry already paying more than 50 per cent of state taxes.
“While the cause is worthy, yet another tax on the property sector is not the answer. The Government should rule out this flawed idea immediately,” said Asher Judah, Victorian Executive Director of the Property Council.