Will Labor introduce a tax on foreign buyers?

The Weatherill Labor Government must 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.

 

“The Weatherill Labor Government has so far refused to rule out introducing a similar tax here in South Australia,” said Shadow Treasurer Rob Lucas.

 

“Given the poor state of our economy, we 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.

 

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

 

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


“We should be encouraging investment in South Australia – not discouraging it.”