Has anyone ever heard of a windfall tax? Vic straya has one soon

Our great state government are bringing in a windfall tax.

With urban growth many properties that are farmland will eventually be consumed for housing development.

Farmers have owned the properties for decades, and when a developer comes along and offers you 20 million for your land for housing.

Well guess what, 50 percent will now be charged as a state tax.

so now your property is in effect only worth half.
Though in reality it’s will only double the market value to actually get the market price after tax is stolen by the state.


How dumb are these pollies in reality it will only detriment new housing development as there will be no new land fir sake, as the taxes are too high.

This will only Jack up already unaffordable housing prices out of everyone’s reach.

Though what’s concerning, is it doesn’t say it’s a sales tax, only if it is deemed your property has gone up in value. Sounds like a land tax.


Bloody greedy bastards in spring street.

Screw over families to pay the big build debt.


www.hunthunt.com.au...


www.sro.vic.gov.au...

How the hell did that prick win the reelection???

a reply to: Flatcoat

I have no idea, how he was voted back in.

I never knew about this new legislation.

I was trying to find another story I saw in the news earlier, as dan is proposing a new tax to help fund the bailout of porter Davies customers who have half built houses.

I disagree we as taxpayers have to bail out a private company.

Where theres a pie there’s a government finger in it.

They don’t even have the decency to thank the farmer for caretaking and paying the land tax/rates for them.

Just don’t sell. Dan Andrews can keep his fingers to himself.

What a fat headed stooge.

a reply to: robsmith

a reply to: Dalamax

I guess the logical way to set yourself up is resister your self as a proprietary limited company, have all your bills, land rates water rates, utility bills in s company name, and any losses or profits will be tax deductible.

Though the law doesn’t state if sold, it sound like if they deem your property has increased, you will be charged a land tax.

He is greedy, needs a way to pay the huge debt back.

a reply to: robsmith

Typical government , take then take more.

a reply to: gortex

It’s outright greed, particularly from the hunt article, the tax upto 500 thousand is 62.5%.

That’s a lot of tax.

“ It is a significant tax. For rezoning that results in a taxable value uplift more than $100k but less than $500k, the tax will apply at a marginal rate of 62.5% on the uplift above $100,000. On $500k or more the rate is 50%.”

This land profiteering is happening in the UK as well. The question that should be asked is "why are they allowing building on prime farming land" ? Or a better one "the bloody greedy farmers who got the land for next to nothing, flogging it for 20 million, Oh the government is taking half (the governments half should go to help the people, all people) but the farmer still walks away with 10 million" ? Will HE give YOU any of that?

a reply to: crayzeed

I know we won’t get a cent. Though all this is going to go is increase the cost of future housing, as the vendor will jack up the price by 60 percent to cover the taxes.

Though the state here is in such huge debt they are trying all avenues to repay states debt.

a reply to: robsmith

I read the articles at the links you provided.

What a weird situation they've created. It will have weird unintended consequences although it's not clear to me what they will be. I guess if I'd inherited a family farm, I'd think twice before selling after rezoning. I noticed that there are different zones...I suppose it might have the effect of making farmland within the zone immediately have an inflated value? At the same time, it would depress values of farm land next to farms zoned in....they'd be in a hurry to sell before they are zoned in.

I'd think it will also make farmland far remote from a Metro area MORE expensive as potential farm operators will want land far away from Metro areas.

In a sense, it's a move that just reeks of desperation....makes me think Victoria must be way upside down on it's debt.

a reply to: robsmith

Do you use electronic voting machines and mail in ballots?

That is how the dregs stay in office.

originally posted by: crayzeed
This land profiteering is happening in the UK as well. The question that should be asked is "why are they allowing building on prime farming land" ? Or a better one "the bloody greedy farmers who got the land for next to nothing, flogging it for 20 million, Oh the government is taking half (the governments half should go to help the people, all people) but the farmer still walks away with 10 million" ? Will HE give YOU any of that?

Why should he? If it's his property and he sells it, why is any of it owed to the proverbial YOU?

a reply to: infolurker

We use paper voting slips, though I don’t trust these.

It’s not like we can watch the count of vote papers

a reply to: TonyS

Victoria is approaching a 180 billion dollar debt.

I have one thought, that the gubment know they won’t get the sales taxes, as no one wants to lose half their capital gain when they sell.

So to circumvent this due to a lack of land to reduce the housing crisis the gubment walk in and compulsory take your land.

This is what I am thinking.

The state have no major assets, only thd port they have a 99 lease to a foreign consortium to operate and profit from.