Regional Victorians are bearing the brunt of Labor’s financial mismanagement, with the recent land tax changes placing more financial pressures on both renters and landlords.
With tens of billions in cost blow outs on infrastructure projects the Allan Labor Government’s decision to lower the tax-free threshold for land tax from $300,000 to $50,000 and introduce an additional flat tax of up to $975 is another example of this government punishing Victorians for their financial mismanagement.
Amid extreme rental shortages across the region, The Nationals Member for Shepparton District Kim O’Keeffe has asked the Treasurer in Parliament to explain why the Labor Government decided to lower the threshold.
“This unjust decision has been made during a housing and cost of living crisis,” Ms O’Keeffe said.
“Treasurer Tim Pallas and the Allan Labor Government is once again trying to tax their way out of debt, ignoring the financial burden and distress they have placed on Victorians.
“My office has been inundated with complaints from constituents right across my electorate that have been severely financial impacted by this unexpected tax.
“Many landlords are saying that it is no longer feasible to own a rental property in Victoria.
“These are everyday regional Victorians, many who are self-funded retirees, doing their best to put themselves in a positive financial position for their future. They are now faced with financial uncertainty.”
The impact of the tax hike goes beyond homeowners, placing added stress on an incredibly tight regional rental market.
“People across our region are selling properties because they simply can’t afford to pay the exorbitant land tax on them,” Ms O’Keeffe said.
“This situation leaves renters vulnerable, with no guarantee that their landlord won’t raise rents to cover the increased tax burden.
“This policy hurts everyone in regional Victoria, especially when demand for housing far exceeds supply.
“Labor can’t manage money, can’t manage projects and Victorians are paying the price.”