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Tax expert worried Australia on path to neo-feudal society as housing wealth drives inequality (www.theguardian.com)

submitted 6 months ago by hanrahan@slrpnk.net to c/ausfinance@aussie.zone

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One of the country’s leading tax experts says the explosion in housing wealth has put Australia on the path towards a neo-feudal society where your prosperity depends in large part whether your parents own land or property.

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[–] fizzle@quokk.au 0 points 6 months ago (3 children)

Yep. No new news. We all know.

Abolish CGT discount, negative gearing. Increase land tax, and implement vacancy tax.

Everyone knows that this is what needs to be done but amazingly home owners don't want to do any of these things.

[–] prex@aussie.zone 0 points 6 months ago (2 children)

Single home owners can live with it. Its investors putting the brakes on these measures.

[–] itsathursday@lemmy.world 0 points 6 months ago (1 children)

“Investors”.

[–] fizzle@quokk.au 0 points 6 months ago

There there pet.

[–] fizzle@quokk.au 0 points 6 months ago

Perhaps "can live with" but most wouldn't choose it.

Most voters aren't particularly well informed. If you ask a home owner whether they want property prices to increase by 10% or 0% this year of course they will all say 10% because they don't really understand that the current property cycle is hurting everyone.

[–] SaneMartigan@aussie.zone 0 points 6 months ago

Aggressively implement vacancy tax. It's currently set at "self-reported" per Punters Politics recent video.