The Combined Pensioners & Superannuants Association (CPSA) has confirmed what NSW Labor has been saying all along – that any property tax, once established, will make it easier for a bigger tax to be imposed in future.

In an article published today, the CPSA argues:

“The  NSW Government’s latest property tax proposal could turn out to be the thin end of the wedge. Once a property tax, even an insignificant one, is established, it will be easier to make it bigger in the future.

The CPSA has also emphasised that Dominic Perrottet has not lost his desire to completely replace stamp duty with an annual land tax stating:

“If re-elected and if able to finance the radical change from stamp duty to a recurrent property tax, the NSW Government would do so in a flash.”

This intervention recognises that the proposed land tax on family homes for first home buyers leaves plenty of room for expansion, and that its current model effectively doubles council rates.

The CPSA has warned that those who cannot pay this land tax will be charged compound interest for their own homes, and calls upon NSW Parliament to vote down the Property Tax (First Home Buyer Choice) Bill 2022.

Shadow Treasurer Daniel Mookhey said:

“Pensioners are right to be worried, because they know that they’re next in line to Mr Perrottet. As they say, this will be the thin edge of the wedge.”

“Dominic Perrottet said in July that he would like his plan for a land tax to be extended to pensioners next. I even asked him to rule this out and he said no.”

“Mr Perrottet’s land tax plan won’t work, but it will hurt.”

“The Premier shouldn’t try to rush it through the Parliament in the few sitting days left before the election. He should instead let the community have a say at the polls.”

DANIEL MOOKHEY 
NSW SHADOW TREASURER