NSW Labor Government Taxes and Charges Dash Hopes of Home Owners

Minister for Community Services, Senator the Hon. Nigel Scullion, today labelled the exorbitant land taxes, stamp duties and other property related fees of the NSW Labor Government as the new Housing Affordability Tax.

‘Unemployment is currently at a low of 4.5 per cent, real wages have grown by 19.8 per cent over the last 10 years and over 2 million jobs have been created under the Coalition Government,’ Senator Scullion said.

‘Despite our strong economy, lower personal income tax rates and higher wages, many Australians are finding it increasingly difficult to purchase their home. Why?

‘One key reason is the outrageous impost forced upon NSW home buyers through Iemma’s Housing Affordability Tax.

‘Commentator Alan Jones knows it when he stated that families buying a new home in Sydney are forced to pay an average of $68,000 in infrastructure charges.
(CH 9 Today Show 14 Feb 2007)

‘The Financial Review reported it on Wednesday 21 March 2007 where it is estimated that the national state based land taxes and stamp duties is expected to soar to more than $15 billion this year. Up from $9.6 billion in 2004-05.
‘The home buyers of NSW pay for it when they are forced to save larger deposits and pay off larger mortgages as a result.

‘The only people who do not seem to care about this outrageous impost seem to be the NSW Labor Government.

‘Perhaps it is time that the NSW State Labor Government gave up their love affair with money and started to care about the future and security of their constituents and assisted them by reducing their Housing Affordability Tax,’ Senator Scullion said.