Sydney Today, April 4th, Australian Eastern Time, the Housing Industry Association claimed: A report by an independent International Economic Center found that the real estate construction industry may be the most taxed industry in Australia.
Harley Dale, HIA's chief economist, pointed out that this report is the most comprehensive housing tax analysis of the real estate market in decades, which shows that taxes on the real estate market are indeed too high. Dale said: "Our team’s taxation in the real estate industry is not only excessive, but also inefficient. From a proportional point of view, tax accounts for 36% to 44% of the price of finished houses, which is fatal to new houses. Threat."
CIE was commissioned to analyze the direct, indirect and hidden taxation of new houses and found that the local government, state government and federal government levied up to 400 billion Australian dollars in taxes on the real estate industry, accounting for 11.3% of the total tax revenue. This makes the real estate market the second largest contributor to Australian government taxation, which is lower than the general retail and wholesale industries.
Taxes in the real estate industry include stamp duties with different proportions at each step of the real estate supply chain, other levies and some mandatory taxes; in addition, there are some income taxes, fuel, wage taxes, import duties, and consumption taxes.
English version: http://www.afr.com/p/business/property/house_prices_up_to_pc_tax_report_bZLnnp7yUn9qSQFSeJta3J