Land tax is socialist and should be banned

Stamp duty is an inefficient tax but it is better than paying a forever tax on your freehold land

Stamp duty makes it more difficult to purchase a home. Not only does it increase the initial outlay required, but it also adds to the strain of meeting stringent savings requirements to secure a mortgage. But make no mistake, a land tax for homeowners is worse. It is effectively rent on what should otherwise be freehold land.

The Morning Double Shot newsletter had this to say:

Michael de Percy is right about state governments’ land taxes: they demand people pay rent on their own land. Land taxes should go, but at the same time the rate of GST, which John Howard and Peter Costello hypothecated to the states in 1998 (in return for abolishing state taxes including land tax) should be upped to 15 per cent, with tied grants to the states slashed to zero – and personal income taxes cut, of course.

The Unfiltered newsletter had this to say:

Land Tax is socialist – get rid of it! What do you think about Land Tax? Michael de Percy makes it pretty clear that he is fed up with the Labor government and that the socialist tax should be scrapped before it does real harm to the concept of private property. He writes, ‘Land tax may be efficient, but land tax is rent. If you must keep paying for the land you own, then it is no longer freehold land.’

My latest in The Spectator Australia, Land tax is socialist and should be banned.

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