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Articles from Prosper Australia

Vacancy a Sign of Systemic Failure

June 6, 2017 - 14:45 -- Admin

Prosper President Catherine Cashmore is quoted in The Age with Land Bankers raise ire of the well-heeled. “Morally it’s not a good thing to do,” she said. “But let’s not blame the investors.” She pointed the finger at government policy: “The nation has been breastfed on the notion that the way to fund their retirement […]

The Metricon Judgement

June 2, 2017 - 00:00 -- Admin

In March last year, the NSW Supreme Court set aside the NSW Office of State Revenue’s assessment for land tax in 2009-13 on certain lands at Terranora in the Tweed Valley held by Metricon. The developer bought the $60m aggregation to subdivide for residential use. It side-stepped a land tax liability of around $1.2m per […]

The bank cartel has a new enemy

May 31, 2017 - 17:15 -- Admin

The federal Treasurer Scott Morrison used parliament yesterday to fire an extraordinary broadside at Australia’s banking cartel. Conservative governments rarely indulge in the public thrashing of such major supporters of the status quo. Morrison and the Turnbull government are absolutely furious with the big 4 banks and Macquarie for their brazen pursuit of self-interest at […]

Gladys can’t handle the heat – NSW fire reforms go up in flames

May 31, 2017 - 08:26 -- Admin

The NSW government is reneging on the small, high quality reform of funding emergency services with a land charge instead of the very bad levy on fire insurance. Blue-rinse dragons of Mosman saw red – they will be paying $500 a year on median land values of $1.84 million while scumbag Fairfield holders with a […]

Mozambique model creates jobs and food… can this work in South Africa?

May 24, 2017 - 09:23 -- Admin

by Peter Meakin South African Constitutional Property Rights Foundation Will Minister Gigaba encourage the trafficking of South Africa’s unemployed to Mozambique? Realistically, the best chance for South Africa’s 8.5 million jobless is a single bus ticket to Maputo. Work prospects there are unlimited because access to fertile land is free. That alone is a treasure […]

Pitfalls loom for vacancy taxes

May 15, 2017 - 11:06 -- Admin

Governments make token moves in the right direction The Federal government announcement of a vacancy tax on foreign investors could be construed as pure populism. Foreign investors constitute some 11% of all residential property purchases. Barely 3% of those purchasers are the much vaunted Chinese investor. Domestic investors are up to four times more significant. […]

Reading tea-leaves won’t help – look at the tax bases

May 11, 2017 - 16:17 -- Admin

Cameron Kushner of CoreLogic has offered an interesting analysis of property tax bases in Taxation Revenue From Property Continues to Climb. Tax bases reveal more about a country’s future prospects than Treasury forecasts and economist sooth-saying. Where and how it taxes is the single most important tool government has to foster national prosperity. It is […]

The young can’t count; the young don’t matter

May 10, 2017 - 16:28 -- Admin

Last night’s federal budget included a fat gift to downsizing homeowners over 65 who can now put up to $300,000 from their house sale into superannuation, allowing many to keep their (part) pension and, most importantly, unlimited free healthcare. This stunning generosity to the asset-rich is in striking contrast to the Turnbull government’s behavior toward […]

Victoria gets annual land valuations

May 1, 2017 - 16:10 -- Admin

The Andrews government has announced State Land Tax will be calculated annually rather than every two years, a painless inexpensive reform Prosper urges all states to adopt. The Valuer-General’s assessment is used to calculate council rates and land tax. Valuers today use computer-assisted mass appraisal to determine what land is worth, so upgrading the biennial […]