Original article by Broede Carmody, Rachel Eddie, Jim Malo
The Age – Page: Online : 25-May-23

The Victorian government continues to attract scrutiny over the Covid debt reduction measures in its 23 May budget, which include a land tax on residential investment properties. Premier Daniel Andrews contends that landlords will not seek to recoup the cost of the new tax by increasing their rent charges, although the Centre for Independent Studies’ chief economist Peter Tulip argues that many landlords have relatively thin margins and will need to increase their rents. Treasurer Tim Pallas has indicated that the state government may consider options such as capping rent increases, although he has ruled out a rent freeze. Family homes will be exempt from the land tax.

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VICTORIA. DEPT OF PREMIER AND CABINET, VICTORIA. DEPT OF TREASURY AND FINANCE, THE CENTRE FOR INDEPENDENT STUDIES LIMITED