Today, the Allan Labor Government revealed plans to introduce more than $11,000 in additional tax on every new home built in 58 activity centres across Victoria.
Whilst this tax is levied on developers, like all property taxes it will inevitably be passed through to homebuyers though higher prices and higher rents.
Furthermore, Labor has failed to guarantee funds raised through the new tax will be spent on local infrastructure, meaning homebuyers paying this new tax will be paying for Labor's growing debt, instead of receiving the quality local roads, footpaths, parks and public transport they deserve.
Under the Allan Labor Government, Victoria's net debt is growing by more than $2 million an hour as Labor's highest-in-the-nation property taxes continue to drive critical investment and construction sector activity interstate.
Shadow Minister for Planning, David Southwick, said: "Labor simply doesn't get it - you cannot tax your way to more affordable homes.
"Labor's latest property tax grab means higher rents, fewer homes and will push dreams of home ownership further out of reach.
"Instead of using homebuyers and the construction sector as a cash-cow to pay for their own financial mismanagement, Labor should be reducing property taxes and red tape to get more homes build and improve housing affordability for Victorians.
"Labor cannot manage money, cannot manage housing and Victorians are paying the price."
