Business Services Industry
Home owners net $2000 a year bonus.
Australasian Business Intelligence, September, 2005
Byline: Jessica Irvine
Sep 25, 2005 (The Sydney Morning Herald - ABIX via COMTEX) -- Macquarie University's Dr Peter Abelson has released the results of a study of Australian property taxes and subsidies. He found that although the nation's home owners pay high taxes, they also receive an average of $A2,000 per year in subsidies and concessions. In contrast, property investors are given an average of just $A250 a year in subsidies. Dr Abelson also found that the first-home buyers' grant has increased the
total amount of subsidies available to home owners by $A1.2bn, while the lack of capital gains tax on family homes is worth $A8.8bn each year.
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