Victoria Shadow Treasurer Michael O’Brien
Andrews’ $12.5 Billion Property Tax Slug
Victor P Taffa
Premier Daniel Andrews’ new tax plans include a $12.5 Billion property tax slug to pay for his unfunded Suburban Rail Loop promise, according to modelling by his Labor government.
When Labor announced its $50 Billion plus Suburban Rail Loop, it announced that “value capture opportunities will be required” to fund the project.
“Value capture is simply Labor’s code for tax increases.” Shadow Treasurer Michael O’Brien said.
Infrastructure Victoria, Daniel Andrews’ hand-picked agency, has calculated what his value capture taxes would raise for major rail projects. They have modelled a cost recovery of 25 % just from property taxes alone to build major rail infrastructure projects such as Melbourne Metro 2.
$12.5 Billion In Taxes
This shows that Labor will seek a minimum of $12.5 Billion in taxes on Victorian homes and businesses to fund its currently unfunded $50 Billion plus Suburban Rail Loop.
Modelling also shows that residential properties would face a tax of $435 per year, every year, for 30 years with no exemptions or deferrals.
Daniel Andrews plans a raft of new taxes that will be paid for directly from the hip pocket of Victorians to pay for his unfunded promises.
“You cannot trust Daniel Andrews when it comes to tax.” Shadow Treasurer Michael O’Brien said.
There is a clear choice at this election:
- Under the Liberals there will be tax cuts.
- Under Labor there will be tax increases which have been confirmed by both Premier Daniel Andrews and Treasurer Tim Pallas.
Victoria State Election will be held on 24 November 2018.