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Land & property tax – Bill Faces Rocky Path

October 1st, 2009 · No Comments

by Greg Lowe

Government proposals to change land taxation have been cautiously welcomed by the property sector but industry experts say clarification of the bill´s legal definitions are needed and that any new law must be applied evenly and transparently.

Questions, however, have been raised by industry observers over whether the Democrat-led coalition has either the political will or clout to force through the proposed changes which will likely face strong opposition from powerful landlords and land-owning families that include many politicians in their ranks.

On paper the Fiscal Policy Office´s proposals are seen as a positive move away from the existing system, which has been criticised for being opaque, highly subjective and prone to corruption. Read more…

Tags: Asia Property Report · property

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