The property industry is urging the Allan government to reverse “punitive” taxes and red tape stifling new housing supply in Victoria, which has fallen behind Queensland, Western Australia and South Australia.
Tuesday’s state budget showed Victoria, already the country’s highest-property-taxing jurisdiction, will increase its total tax take from land and building owners to 47 per cent over the next four years, prompting further pleas from developers to overhaul the revenue-raising measures.
