http://www.theage.com.au/news/national/tax-shock-for-victorians/2008/01/31/1201714153263.html
I am new to managing money and have NO investment properties, I don't
understand a damn thing about this but I'm trying to read up so I can
better
understand.
(I don't even know what land tax is)
I am thinking from the googling I've just done.
Land tax is some kind of yearly payment on the value of a property based
on
it's perceived value and only secondary properties (investment) or
business
propertiesl , not your home.
Does the government ever refund this money?
This money is paid under the assumption that if you sell it, they should
get
some?
What if you don't sell it?
What if the property goes down in value the next year, do they refund some
of the money that year?
What if it sells for substantially less than what they claim it's worth
(surely you would need an independant evaluer as it's in the govt's best
interest in claiming it's worth a lot)
The entire concept comes across as absoloute @[EMAIL PROTECTED]
theft to me and I'm
still saving for my first home deposit, I'm not even an investor, surely I
have some of my theories / facts incorrect?
Is it really a yearly 'fee' - surely this shouldn't even be called a tax?
more like some kind of 'rates' ?
Won't an increase in land tax cause landlords to increase rental prices,
further screwing people like me up, trying to save for a place?
Also upon further googling, shareholders don't pay any such kind of tax
right? (I believe they pay a tax when selling the shares though, which
does
seem somewhat more fair)
Won't this drive the value of homes down, due to the extra fees that
investment property owners need to pay - some may opt to sell.?
(This is a good thing for me, in the future but I can't help but feel it
seems like stealing)
http://www.theage.com.au/articles/2004/11/20/1100838277853.html
I see this old article and it seems to me that it's basically theft, how
can
the government get away with this?
The older you get, the more you realise the world is out there to take
from
you, the concept of investment is daunting enough as it is.
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