Labor say coalition must be honest about farmland tax plans | Canberra weather

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Labor has called on the NSW government to shed light on its NSW property tax plans. He says a property tax could cripple farmers affected by drought, fires and trade disputes. The plan was introduced by NSW Treasurer Dominic Perrottet in NSW’s last budget with the aim of overhauling the state’s old property tax and stamp system. Farmers in New South Wales have already rejected the move, saying many farmers would have gone bankrupt during the drought. Labor claims under the reform proposal, farms – which are currently exempt from property tax – will be taxed in the same way as high-end homes in Sydney’s eastern suburbs. NSW Labor Party leader Jodi McKay said she asked the Deputy Prime Minister during Question Time if he supported the treasurer’s proposal to tax farmland, and said John Barilaro denied that the reforms would affect farmers. Upper Hunter Labor candidate Jeff Drayton said the farm tax was “devious and unfair”. “An Upper Hunter farmer shouldn’t pay the same rate as an owner of a mansion in the eastern suburbs of Sydney. The government wants you to pay the same tax rate regardless of the value of your property. This is just another example of the Upper Hunter being left behind and not getting their fair share, ”Mr. Drayton said. “Upper Hunter farmers have been affected by drought, bushfires, economic recession, international trade disruptions and mouse plague. They are not getting the support they need at the moment and this political proposal will only make matters worse. IN OTHER NEWS: Shadow Minister of Primary Industries Jenny Aitchison said nationals misled farmers: “The Deputy Prime Minister denied that the reforms would have an impact on farmers when the treasurer cut them off. announced, then did a backflip the next day. How can farmers trust nationals? They don’t care about the farmers. Ms Aitchison said that a generalized property tax could bankrupt some farmers: “Few other business models have an ongoing tax on the cost of production – in this case land. ‘They will have to keep paying during those lean years when they don’t make money, or worse, suffer losses. NSW Farmers Chairman James Jackson said last year that future farmers affected by the drought could be bankrupted by proposal Jackson wants government to abandon proposed new state “We don’t like stamp duties and we probably like property taxes less,” Jackson said. problem with land tax, of course, is that our income is really lump sum. [Land tax] is a charge that is billed annually. Mr. Jackson said a property tax would have “put a lot of people out of business” during the latest record drought. Farmers in times of drought tend to earn little or no income and most, “by cutting business costs and out-of-pocket expenses to reduce borrowing, he said. But if there is a tax land fixed every year, “people can’t hide in a drought and save all these savings,” Jackson said.

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