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One of Australia’s wealthiest men, land baron and apartment developer Harry Triguboff has written a letter to the NSW Government questioning why he is being charged land tax on his vacant holdings:
Mr Triguboff’s Meriton Apartments has questioned NSW Treasurer Dominic Perrottet over land tax, complaining that it is a significant holding cost and represents an average 10 per cent of the gross revenue of his serviced apartments and residential rental units…
“Also, I do not understand why I should pay land tax for holding land which the NSW department of planning refuses to approve.”
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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.