Australia is turning into a Communist state – FAST!
This is not the much more oppressive Stamp Duty or Capital Gains Tax on investment properties. It is just Land Tax alone that has to be paid annually.
Seriously, one has to be totally demonic to expect any owner of any business or property to continually run at a loss without winding it up and selling it. This is what radical socialism does – it destroys production and the incentive to work.
On top of this, the Victorian State Government has just introduced a new annual 1% house vacancy tax if you leave a property vacant for more than 6 months. No doubt it will apply to holiday homes before long as well. This is calculated on the full capital value.
From 1st January 2019, my understanding is that ALL residents who own homes in Australia will lose their owner-occupier exemption from Capital Gains Tax (currently your top marginal tax rate in the year in which you sell, for most 45% plus M. levy 2% plus a 1.5% surcharge = 48.5%). There are about 550,000 to 600,000 New Zealand citizens there who will be affected. Can you imagine the turmoil that’s coming?
YET THIS IS WHAT THE NZ LABOUR PARTY UNDER COMRADE ARDERN IS PLANNING FOR NEW ZEALAND. Put all landlords and farmers out of business and there will be few rentals for anybody as the private sector currently supplies 60% or so of the market. Introduce Land Tax, Capital Gains tax, water tax, carbon tax on farmers and they too will mostly be running a loss, and before long the price of just one potato will be ten dollars.
Socialism destroys everything over time, but radical socialism proposed by Comrade Ardern will destroys everything that much quicker.
And by the way, the international Marxist bankers are behind it. They know they can’t get the government to tax working class younger people anymore (because in most cases they have less than $10,000 to their name) to service the interest on rising government debt. So now they are turning to the Middle Classes asnd ‘Baby Boomers.’ This is why the bankers who own the NZ media have been so pro-Labour and pro-Ardern, with even the Chief Economist of the ANZ Bank supporting Labour and criticizing the National Party Finance Minister. ANZ Bank (NZ) is owned by ANZ Bank (Australia) which in turn has cross shareholdings in other big Australian banks, which in turn are owned by big New York and City of London banks, in turn controlled by the “Kings Jews” who are Marxist members of the Worshipful Company of International Bankers in Guildhall, City of London Corporation.
Although Comrade Ardern is a Communist, and capable of doing a huge amount of damage, and could become PM in 2 weeks time, she is way down the socialist pecking order and is simply an individual within the socialist party faithful who Lenin often referred to as “useful idiots.”