Media Release

01 July 2016

O’Brien: New Financial Year, New Labor Taxes and Charges

Friday 1 July 2016

New Financial Year, New Labor Taxes and Charges

As the new financial year starts today, Victorians have woken up to a string of higher taxes and charges to pay for Daniel Andrews’ wasteful spending.

Homebuyers face paying up to $2,234 more in fees when they purchase a home under massive increases to land transfer fees commencing today.

Under the changes, the previous fee cap set at properties valued at $500,000 has tripled to $1.5 million, meaning that purchasers will see transfer fees jump by up to 163 per cent.

These higher fees will see property buyers pay an extra $140 million to the Andrews Labor Government over four years.

Amongst other fee changes from 1 July:

  • The Fire Services Property Levy will increase by $46.1 million; a 7.3% increase;
  • The stamp duty surcharge payable on property purchased by international investors rises from 3% to 7%, flowing on to increased rents paid by Victorian tenants;
  • General government fees and charges have increased across the board by 2.5%; and
  • 28 day recreational fishing licences jump from $12 to $20.

Comments attributed to Shadow Treasurer Michael O’Brien

“Daniel Andrews’ wasteful spending means that Victorians are being hit hard by a raft of new taxes, fees and charges.

“While many Victorians are struggling to enter the housing market, Daniel Andrews is gouging home buyers with massive increases to land transfer fees.

“By ripping an extra $35 million a year out of the pockets of Victorian homebuyers, Labor is hurting housing affordability.

“Even fishing isn’t safe under Daniel Andrews, with recreational fishing fees rising by 66% from 1 July.

“As the saying goes, give a man a fish – he eats for a day. Teach a man to fish – he eats for a lifetime. Tax a man to fish – you must be Daniel Andrews.”