Labor must rule out tax on foreign buyers

The State Liberals are calling on the Weatherill Labor Government to rule out introducing a tax on foreigners buying property in South Australia.

The Victorian Labor Government will introduce a tax that will see foreign property buyers hit with a 3 per cent surcharge on stamp duty and a 0.5 per cent surcharge on land tax.

 

Victorian industry groups have raised concerns that this tax will hamper investment and increased costs will simply be passed down to ordinary householders.

 

“Premier Jay Weatherill and Treasurer Tom Koutsantonis must today rule out introducing a similar tax here in South Australia in the upcoming State Budget,” said Shadow Treasurer Rob Lucas.

 

“South Australia is already the highest taxed state in the nation – the last thing businesses and households need is another tax.

 

“Given the poor state of our economy, we also need every single dollar of investment coming into South Australia that we can get.

 

“Sadly it is in the DNA of the Labor Party to only want to talk about increasing taxes or introducing new taxes.

 

“Treasurer Koutsantonis continues to try and drum up support for his proposed annual $1200 tax on the family home.

 

“Last month, Mr Weatherill and Mr Koutsantonis also raised the frightening prospect of reintroducing a tax on every deposit any person in South Australia made in their bank or financial institution.

 

“This is in addition to massive increases in the ESL and attempts last year to bring in a toxic car park tax.

 

“Given the Weatherill Labor Government’s form in introducing and increasing taxes, Premier Weatherill and Treasurer Koutsantonis must come out today and immediately rule out introducing a new tax which will hurt investment and household budgets alike.”