but quite relevant in today's environment of 'TAXING THE RICH TO SUPPLEMENT THE POORER'
Bob Carr as Premier of NSW in 2003 introduced the Vendor Tax......a tax on the sale of investment properties in NSW.....a supposed tax on the richer group of society.....
below is a summary of its affects roughly 12 months after its introduction...
"NSW vendor tax deters investors By Amy Coopes September 22, 2004
Sydney property investors are flocking interstate to escape the NSW Government's exit stamp duty.
Sydney property investors are taking their money interstate, fleeing the adverse impact of the NSW Government's exit stamp duty, an Australian Property Institute survey has found.
The 2.25 per cent tax on the sale of investment properties, introduced in May's mini-budget, was influencing investors' decisions in property markets, the survey, which was released yesterday, revealed.
The 13th biannual API Property Directions survey found 79 per cent of buyers and 79 per cent of developers said the vendor tax was affecting their decisions, while 67 per cent said the tax was also having a negative impact on non-residential single-property decisions.
API president Greg Preston said the tax was being factored into pricing and purchase value decisions, trading options and alternative state acquisitions. "(The vendor tax) hasn't only impacted in NSW, it's also impacting on other states in terms of flow of investment interstate," Mr Preston said.
Investors were looking elsewhere for better capital growth prospects and returns, or choosing to pay less for property. This was good news for interstate markets, he said."
so how has that affected the NSW situation now.......
ask any of the thousands of people trying to RENT a property in SYDNEY or elsewhere in the state.......
the lack of supply has sent Rental Prices through the roof.....thus hurting those people the most that BOB CARR and his Socialist group were trying to help......
this is all a much too common occurrence in society......the short term Socialistic views of the left side of politics ends up hurting the people they supposedly represent, in the longer term....
today....we have the most LEFTIST/RADICAL campaign running our country....
the results will be the same as those of Western Sydney.....
living in a world that basically is unaffordable for the majority of the supporters of current federal government...
the addition of BOB CARR to the Ministry only confirms that the Lefties will be looking to inflict more pain on our overall society in the future.....
lets hope our reputation with overseas investors is not hurt beyond repair and common sense prevails in the near future, with the return of a Normal Government
(20min delay)