Daniel Andrews’ new tax plans include a $12.5 billion property tax slug to pay for his unfunded Suburban Rail Loop promise, according to modelling by the Labor government.
When Labor announced its $50 billion plus Suburban Rail Loop, it announced that
“value capture opportunities will be required” to fund the project.
Value capture is simply Labor’s code for tax increases.
Infrastructure Victoria, Daniel Andrews’ hand-picked agency, has calculated what his value capture taxes would raise for major rail projects. They have modelled a cost
recovery of 25 per cent – just from property taxes alone – to build major rail infrastructure projects such as Melbourne Metro 2.
This shows that Labor will seek a minimum of $12.5 billion in taxes on Victorian homes and businesses to fund its currently unfunded $50 billion plus Suburban Rail Loop.
The modelling also shows that residential properties would face a tax of $435 per
year, every year, for 30 years with no exemptions or deferrals.
Daniel Andrews plans a raft of new taxes that will be paid for directly from the hip
pocket of Victorians to pay for his unfunded promises.
You cannot trust Daniel Andrews when it comes to tax.
There is a clear choice at this election: under the Liberals there will be tax cuts.
Under Labor there will be tax increases which have been confirmed by both Daniel
Andrews and Tim Pallas.