From The West Australian comes rumours the new State Government plans to slug property investors with a $270 levy to help fund the Budget deficit:
The West Australian understands the tax will be linked to water rates and apply to tens of thousands of investment properties with a gross rental value of $24,000 or more.
The Government did not rule out the levy yesterday but refused to confirm any details.
“All options are being considered as part of the Budget repair process,” a spokesman for Treasurer Ben Wyatt said.
“Any announcements regarding household fees and charges will be before July 1.”
Sources say the levy will target those getting investment earnings of more than the median house rental, which is $380 a week in WA…
Premier Mark McGowan continued his hard line on the state of WA’s finances yesterday, saying tough decisions had to be made. “As you know, the financial position we inherited is catastrophic,” he said.
It must sure suck to be a WA property investor right now, given both dwelling prices and rents are also falling.
