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Shorten’s AWU raided over GetUp

The Australian Federal Police raided the offices of the Australian Workers Union late yesterday as part of an investigation by the union watchdog into Labor leader Bill Shorten’s donations when he was AWU secretary a decade ago. The Fin

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Sydney
The Productivity Commission report recommending the scrapping of stamp duty and replacing it with a tax based on land values is a recipe for disaster, because determining land values is a very inexact science using the current mass system of land valuing. Shocks will reverberate throughout the property owning community when property owners receive their assessments based on land values. Just look at the fiasco that occurred earlier this year when NSW tried to introduce the fire and emergency services levy based on land values. A far better and more transparent solution would be to scrap stamp duty and replace it with a tax based on the council rates paid by each property annually. Council rates are more stable and do not suffer wide annual increases as now occurs with land tax based on land values. Basing assessments on council rates would ensure that the annual tax raised actually met the amount budgeted for to replace the scrapped stamp duty. It would not, as in the case of land tax, result in hundreds of millions of dollars being overpaid annually above budgeted estimates based on land values.

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