Maintain Freehold Land in NSW

Maintain Freehold Land in NSW

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Selwyn Garwell started this petition to NSW Treasurer

The NSW government under cover of the pandemic is trying once again to change our freehold land titles to leasehold.( It tried before under the guise of altering the fire services levy on insurance policies but was thwarted by the peoples reaction).It is trying once again by altering the stamp duty on property purchases.

They say the choice of a land tax instead of a lump sum duty is voluntary;however once made the land tax remains on the property forever (the next purchaser has no choice!) How long will it be before it is compulsory for all purchasers?Then it will be added to all  property.This is the way of all taxes!!!

We already pay a land tax (based on the property's value) in council rates.ALSO 16% of investors already pay an extra land tax based only on land value  irrespective of the property's income.Many tenants also are paying extra rent than their neighbours because of this.

Stamp duty has never been indexed. The government should have adjusted the rates to compensate for the rampant inflation in property prices (caused in large part by ill concieved Government policies. They are quite correct in saying the current rates are an impost but it is in their power to alter the rates to better reflect the current price structure.

Whilst the proposed change might not be of consequence to you now it will be in years to come and even more so to your children and grandchildren.This tax will be a serious problem for the elderly on fixed incomes.

The government has already spent an obscene ammount of our money on consultants to advise on how best to introduce this impost.

Don't forget when the GST was introduced we were promised that Stamp Duty would be abolished!!!

 

 

 

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