‘Criminal sanctions are available for false statements’: ATO tools up for empty house crackdown
In 2016, 11.2 per cent of private dwellings were unoccupied on Census night, compared with 10.7 per cent five years earlier, totalling 1,089,165 dwellings. In Melbourne and Sydney, the number of empty properties increased by 19 per cent and 15 per cent respectively.
In November, federal Parliament passed legislation giving the Australian Taxation Office power to fine foreign investors up to $5500 a year if they leave their properties empty, plus up to $52,500 for failing to lodge their forms.
Meanwhile, the Victorian state government’s vacant residential land tax kicks in from January 1, with owners in 16 council areas facing potential fines equal to 1 per cent of the property’s value.
TOUGH STUFF. Wonder if Twatford will do this here?
In 2016, 11.2 per cent of private dwellings were unoccupied on Census night, compared with 10.7 per cent five years earlier, totalling 1,089,165 dwellings. In Melbourne and Sydney, the number of empty properties increased by 19 per cent and 15 per cent respectively.
In November, federal Parliament passed legislation giving the Australian Taxation Office power to fine foreign investors up to $5500 a year if they leave their properties empty, plus up to $52,500 for failing to lodge their forms.
Meanwhile, the Victorian state government’s vacant residential land tax kicks in from January 1, with owners in 16 council areas facing potential fines equal to 1 per cent of the property’s value.
TOUGH STUFF. Wonder if Twatford will do this here?
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