Calls for Labor to scrap ‘jobkiller’ property taxes it has on the cards

first_imgProperty holdings over $10m face a rise in tax as well as foreign buyers. Picture: AAP Image/Dave Hunt.CONGRATULATIONS are flowing in after Premier Annastacia Palaszczuk re-won state government — but property experts warn this also means two new big “jobkiller” property taxes could now go ahead. While the Property Council of Australia welcomed the end of a fortnight of uncertainty post-election, its Queensland executive director, Chris Mountford, also warned that two new property tax measures that the Labor government has planned could kill jobs.“While the result is now clear, uncertainty will remain for Queensland’s property industry which faces the prospect of two big new taxes revealed in Labor’s costing documents on the eve of the election,” he said. “These tax proposals are short on detail, but long on risk to our state’s economy. Put simply, these taxes — if implemented — would be job-killers.”More from newsParks and wildlife the new lust-haves post coronavirus22 hours agoNoosa’s best beachfront penthouse is about to hit the market22 hours agoQueensland Premier Anastasia Palaszczuk. Picture: AAP Image/Bradley Kanaris.The Labor Party proposals included raising the land tax rate by 25 per cent for holdings ofmore than $10m and raising the foreign investor tax from 3 per cent to 7 per cent.Mr Mountford warned the measure could have a devastating effect on business rents across Queensland.“A tax on the land that a business is operating is inevitably a tax on that business, and these proposals will have a devastating flow on effect for business rents across Queensland.”“Taxes on business and investment are ultimately taxes that will be borne by Queenslanders.”Mr Mountford said the Property Council was highly supportive of the Government’s Cross River Rail project and Labor’s proposed extension of the First Home Buyers’ Grant at the current rate.last_img