Liberal Nationals to scrap Labor’s stamp duty tax hike on family homes

Labor’s stamp duty tax hike on the family home will be scrapped under an O’Brien Liberal Nationals Government.

Labor wants to jack up its stamp duty tax to make up for the record budget black hole including billions of dollars of waste on botched infrastructure projects.

Victorians need a plan to secure our economic recovery, but all Labor offers is more taxes, fewer jobs and more pain for families and small businesses.

We are no longer in a COVID crisis and the Andrews Labor Government has had enough time to plan for our recovery. Instead, we get higher taxes on families, small business and investment to pay for decisions made on the run.

The Urban Development Institute of Australia, Victorian Division CEO Matthew Kandelaars last week said property tax hikes “does so at the expense of Victorian homeowners, which will only slow our recovery.”

Victorian Executive Director of the Property Council of Australia, Danni Hunter said Victorians worked incredibly hard last year and cannot risk that with new taxes.

Victorian homeowners, renters, businesses and investors will pay for these tax increases, on top of the huge portion of tax revenue they already pay. The new stamp duty will hit 50 per cent of homes in 120 suburbs by 2030.”

Despite promising not to increase taxes when elected, Daniel Andrews has introduced or increased 38 taxes on Victorian families and businesses.

Victorians need a safe pair of hands and a post-COVID-19 plan rather than running Victoria’s finances on a wing and a prayer.

Comments attributable to Leader of the Opposition, Michael O’Brien:

“With our economy so fragile, now is the worst time for Labor to be slugging Victorian families with more taxes on buying their family home.

“Making home ownership and rents less affordable will put our economic recovery at risk.

“The Andrews Labor Government has lost control of the budget and its only plan is to increase taxes on families and small businesses.

“Only an O’Brien Liberal Nationals Government will scrap Labor’s stamp duty hikes which put more pressure on families buying a home.”

Comments attributable to Shadow Treasurer, Louise Staley:

“Dan has no plan and it’s putting the economic recovery at risk that Victorians worked so hard to earn.

“We need to grow Victoria’s economy, not slam it with new and increased taxes on small businesses and family homes.

“Only the Liberal Nationals believe in rewarding Victorians for their effort. Small businesses and families who work hard to get ahead shouldn’t be picking up the slack for Labor’s waste.”

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