Victorian Treasurer Jaclyn Symes says landlords can afford to pay more as she defends new tax

Victoria’s peak property body has slammed the Allan government over a new tax hit to landlords after Treasurer Jaclyn Symes claimed rental providers “can afford to pay more”.

Victoria’s peak property body has slammed the Allan government over a new tax hit to landlords after Treasurer Jaclyn Symes claimed rental providers “can afford to pay more”.

As revealed in the Herald Sun on Wednesday, the Allan government is planning to charge landlords a higher rate than owner occupiers under its new levy to fund Victoria’s emergency services.

Treasurer Jaclyn Symes, speaking outside parliament, defended taxing landlords at a higher rate, saying they “generally (have a) higher capacity to pay”.

“There is less impost on the lower level homes and more on those that can afford to pay more, such as commercial properties and investment properties,” she said.

Treasurer Jaclyn Symes says landlords “generally have a higher capacity to pay”. Picture: David Caird

Property Council Victorian executive director Cath Evans, however, said many landowners and rental providers were already buckling under the current land tax regime and could not afford to pay any more tax.

“Given the immense tax burden already carried by property owners, it’s inevitable this increased tax will need to be passed through to renters and occupiers, increasing cost-of-living pressures when they can least afford it,” she said.

“The government’s economic growth statement says it will back business to invest.

“Instead, the ESVF will do the opposite.”

Shadow treasurer James Newbury labelled Ms Symes comments “disgraceful” and called on Premier Jacinta Allan to consider whether she was fit for the role.

“The Treasurer’s attack on mum and dad investors is a disgrace and proves how much Labor hates homeowners,” he said.

Shadow treasurer James Newbury. Picture: David Caird

“The Premier needs to take a deep breath and seriously consider whether the Treasurer can remain in her job, after this unprecedented attack”.

This month, the Labor government introduced new legislation to parliament to replace the Fire Services Levy with the expanded Emergency Services and Volunteers Fund.

The move will see an extra $2bn ripped out of landowners over the forward estimates, but the bill’s details reveal that landlords will bear a large brunt of the new cost bringing them more into line with commercial and industrial properties.

Under the previous levy, all residential properties were classified as the same and taxed the same.

The move to charge landlords higher costs comes after rental property owners have already been hit with additional charges, prompting many to sell up.

Originally published as Victorian Treasurer Jaclyn Symes says landlords can afford to pay more as she defends new tax