REISA president Brett Roenfeldt has pulled no punches when speaking about the effects new land tax reforms would have on South Australia’s property industry. 

Members had their say through REISA’s Land Tax Member Survey exposing deep concerns regarding the changes. 

“Our members have never had such vocal feedback and concern expressed by members of the public on any issue as great as the land tax reform in living memory,” said Mr Roenfeldt. 

“This is truly an issue that has ignited a fire within our community and has very much affected the dreams and aspirations of mum and dad investors.” 

He went on to state that REISA strongly opposes the proposed aggregation reforms and encouraged the SA Government to engage with them and other relevant stakeholders to discuss alternative avenues of property tax reform. 

“(Those avenues) that might serve the dual purpose of not only securing revenue but also more equitably distributing the property tax burden on real estate proprietors,” said Mr Roenfeldt. 

Mr Roenfeldt said the main thrust of REISA’s recommendations in its Submission were:

•  The State Government must not proceed with the current aggregation reforms 
•  The State Government must complete the Revaluation Initiative before progressing any land tax reform 
•  The State Government must examine the exemptions contained in the legislation to determine if the legislative intent of the purpose of land tax exemption is being fulfilled by the exempted landowner’s primary or dominant purpose of owning the land. 

“We will continue to lobby strongly on behalf of our members for an end to these reforms,” said Mr Roenfeldt. 

“The inevitable outcomes of these reforms will be a state-wide devaluing of properties, a considerable increase in time on market, a massive upswing in vendor discounting and the increasing of rent which will put undue financial and social pressure on tenants and renters” 

Similar to this:

Land tax bill will have a negative effect on residential market:REISA

REISA vows to meet with government following survey results

WA land holders feel pain of state gov's land tax hike