Two years ago today, Dominic Perrottet made clear he wanted his plan to put a forever tax on the family home to affect 80 per cent of properties in New South Wales.
“What we’d like to see is about 80 per cent of properties across the state have access to this scheme.”
Dominic Perrottet Press Conference, 17 November 2020
Make no mistake, Dominic Perrottet’s plan for a land tax for first home buyers is a Trojan horse. This is just the beginning.
But don’t take our word for it. Perrottet himself has said land tax for first home buyers “is the start”, and that his land tax “reform is a journey” and that “what you do is lay the foundation first.”
In fact in July this year Dominic Perrottet revealed his second step on that land tax journey is extending land tax to pensioners.
Under Dominic Perrottet the annual tax you will pay will increase as the value of your home increases.
The land tax rate will increase by up to four per cent every year. And Mr Perrottet refuses to rule out future governments being able to increase the tax rate even further.
Rising interest rates are already eating away at household budgets, particularly for first homebuyers who have purchased in Western Sydney suburbs including Marsden Park, Box Hill and Carnes Hill where one in six can no longer afford their extra mortgage repayments.
When wages have been stagnant, interest rates rising, petrol is going up, tolls are going up his annual land tax payment comes directly from household budgets.
Daniel Mookhey, NSW Shadow Treasurer said:
“No one likes paying stamp duty, but Dominic Perrottet wants to replace this one-off payment with a forever tax that will cost the average homeowner about $2400 a year.
“He’s starting with first home buyers and earlier this month refused to rule it out to pensioners.
“But we all know what he wants to do. For years, first as Treasurer then as Premier, Dominic Perrottet said he wants to see this scheme on 80 per cent of properties in New South Wales – four out of five properties.
“They promised no privatisation before the last election, and the next second they sold off WestConnex and the buses. If they win in March, it will be a land tax on everyone’s homes.”
DANIEL MOOKHEY MLC
NSW SHADOW TREASURER
