Govt is the biggest loser from property bust

Tuesday 13 October 2015

Business Spectator’s Miranda Maxwell has written an interesting post today contending that it is Australia’s governments – and the state governments in particular – that have the most to lose from a property bust:

The Australian tax system raises 9 per cent of its total tax revenue from property, compared to an OECD average of 5 per cent, making property owners Australia’s largest collective taxpayer…

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.