Victorian Treasurer Jaclyn Symes stuns property conference by asking ‘What is your favourite tax’

Victorian Treasurer Jaclyn Symes has been blasted as “tone deaf” after a bizarre question addressed to a Melbourne property conference left industry heavyweights lost for words.

Victorian Treasurer Jaclyn Symes has been slammed by property figures as “tone deaf” after she asked a room full of industry heavyweights to nominate their “favourite tax”.

Melbourne’s property industry was left stunned after Ms Symes jokingly posed the bizarre question at a post-budget Property Council of Australia breakfast on Tuesday.

The event was attended by more than 200 of the state’s biggest residential, industrial and commercial property developers and investors.

“Let’s have a show of hands, what is the worst tax?” Ms Symes asked the event.

She then followed that by asking: “What is your favourite tax?”

Victorian Treasurer Jaclyn Symes has left a roomful of the state’s leading property figures lost for words. Picture: Asanka Ratnayake

As the questions fell flat, moderator Mike Zorbas asked: “Who’s in favour of national tax reforms?”.

Dozens of conference participants then raised their hands.

Prominent developer Max Shifman said Ms Symes’ question showed how “tone deaf the Treasurer is” on the mood of the state’s property industry which has been “brought to its knees through sky high taxes and regulation”.

“It’s like they (Victorian government) wear the punishing tax regime as a badge of honour,” he said.

Ms Symes was also challenged over Victoria’s reputation on the global stage, with an audience member claiming Asian investors had “blanket banned” the state.

“My boss went to Asia last month — investors there see Australia is attractive for capital but have a blanket ban on investing here (Victoria),” the audience member said.

“The 4 per cent AOS (absentee owner surcharge) is killing us.

“Do you accept that Victoria is back of the pack in terms of... international investment in capital cities because of the tax burden?”

Prominent developer Max Shifman said the comment was “tone deaf”. Picture: Stuart McEvoy

Ms Symes denied that investors were turning their backs on Victoria, saying investment was still flowing into the state.

“Would I like to see that improved?” she said.

“Absolutely.”

However, she said she had no plans to change the state’s tax settings towards foreign property investors.

Property figures also told the Herald Sun they were left disappointed by there being no indication of any reduction to the mounting taxes, introduced by her predecessor Tim Pallas.

Originally published as Victorian Treasurer Jaclyn Symes stuns property conference by asking ‘What is your favourite tax’