Could a vacancy tax solve Australia's housing crisis? Canada might have the answer
www.abc.net.au
In 2018, Canada's British Columbia introduced a tax against vacant homes. Three years later, more than 20,000 rentals were back on the market.

My first instinct is “yes” but then I thought about it and I think it’s just going to exacerbate the short-stay problem unless combined with other measures.

  • @[email protected]
    1•1 year ago

    I didn’t realise that the idea was to replace Stamp Duty with land tax. The biggest hurdle I see with that idea is that Queensland, New South Wales, South Australia and Western Australia* have all privatised their land registries. Stamp Duty now goes to private companies and not the state governments. They can’t simply replace stamp duty with a land tax.

    *WA han’t totally privatised their Land registrar, but the process of collecting Stamp Duty is private and the proceeds of a land transfer don’t go to the government.

    • @[email protected]
      1•1 year ago

      As bad as privatising land registries as it’s not like the 6% stamp duty you pay is going to the land registry. There’s probably a nominal fee that these land registries are getting on each lookup and transfer.

    • @abhibeckert
      1•1 year ago

      Stamp Duty now goes to private companies and not the state governments

      WTF? When you buy a home, the $40,000 Stamp Duty does not go to the company running the land registry. It absolutely goes to the government.

      Maybe the company gets fifty bucks or something. They’re not getting $40k.