If we remove the burden of land tax from NSW, we reduce the overheads necessary for businesses to operate, but also assist with housing affordability for families and communities.
The Small Business Party believes that land tax is a significant inhibitor to business and family stability. As land taxes continue to rise in NSW, these costs need to be accounted for in some way and more often than not are passed onto those small businesses and families.
This is another tax on property in NSW, which is already heavily and unfairly taxed.
On average across Sydney in 2018 – land tax accounted for the following extra costs on private tenants and commercial lessees:
- An average of $5028 in land tax (on a residential investment property)
- This equals an extra $100 PER WEEK to the average renter in Sydney
- An average of $21028 in land tax (on a commercial investment property)
- This equals an extra $400 PER WEEK to the average commercial tenant in Sydney