Australia's largest stock trading and investment forum Australia's #1 stock forum

Victoria, it keeps getting worse., page-18

First 18 Last

Share
Profile

Follow
wongfeihung

771 Posts.

18

07/07/24

20:16

Post #: 74645183
Share

Originally posted by mickhp: ↑

In the Age today.

Melbourne Water has to borrow $55.3 Million from the State to pay for an unexpected increase in it's State imposed Land Tax bill.

So borrow from the State to give it back to the State.

This is after all State owned water companies were loaded with $billions of debt to pay for the unused Desal Plant back in 2008.
On top of this debt, in 2023, Andrews ripped another $700 million repatriation from the Water companies to help bolster the State Budget.

What will be the total Land Tax bill from all 19 odd Government Water Utilities across the State, at this stage we do not know.

This is all off budget borrowings, forced on the these State Government utilities by the State Government. One guess on what will happen to our water rates.

Only in Victoria.

Expand

and the only way for Melbourne water to pay their state land tax is to increase water rates. So one govt dept charges another a fictional bill and the taxpayer pays for all!
7 Upvote

Reply

Top Stories

MKT

The ASX can overlook its Telecomm small-caps. Here’s one diversified brand with an international footprint

BMO

Bastion sees echoes of its Gyttorp Cu and REE mineralisation at new Swedish tenements

Trump is President Again: What Does This Mean for Crypto?

3DA

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

NHF

Burgeoning NZ insurance claims drive 1H25 operating loss for nib

First 18 Last

SPONSORED BY