The Victorian government’s latest economic recovery plan for bigger taxes on higher-end property owners is unpopular with real estate and business advocates. New taxes to hit wealthier Victorians are proving controversial with the state’s peak real estate body calling the measures an “assault” on property owners. The Victorian government announced on Saturday it would raise $2.7 billion to boost economic recovery by introducing new taxes on developers, hiking stamp duty on higher-end homebuyers and removing land tax concessions. Unveiling the plan ahead of the state budget this week, Treasurer Tim Pallas said the measures would make Victoria’s tax system “fairer and more progressive.” He said the government would lean on those with the capacity to contribute in order to provide for community needs at the bottom and middle of the wealth scale. Taxes on landholdings will increase to raise more than $380 million a year. From Jan. 1 next year, …
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