The Property Council of Australia has slammed plans to introduce a new transport tax on home owners, saying the move would make home ownership even less affordable in Sydney and add costs to Sydney businesses.
NSW President, Rod Leaver, said any new transport tax would merely flow straight through to buyers.
“The bottom line will be higher house prices, less affordability and longer public housing queues,” Mr Leaver said.
“The transport bureaucrats would have you believe that property developers can just swallow this new transport tax.
“The reality is that this tax will flow through to consumers and hit ordinary people trying to buy a home”.
“The Government is talking about adding an extra $60,000 to the price of a block of land. It just doesn’t make sense.
“This tax wouldn’t just apply to new railway lines. The Government is saying if you live near a rail station or you own a business near one, then we are going to tax you for it.”
Mr Leaver said that the Government was rolling in extra tax revenue collected from property owners, money that should be used to fund much-need transport infrastructure.
“In the last three years alone the Government has collected a $1.5 billion windfall from stamp duty alone – that’s $1.5 billion ripped out of the pockets of home owners and retirees.
“Where has this money gone? Why isn’t this money being invested in transport infrastructure?”
“Governments are addicted to property taxes. Stamp duty, land tax, land rates – and the list just goes on. Now we’re going to have a transport tax.”
“This tax plan is just a lazy one dimensional policy dreamt up by transport bureaucrats who should spend more time getting their own house in order instead of adding to cost of others hoping to buy a home”.