Reporting on the Prime Minister’s decision to sell a Sydney rental, The Australian said more investors were leaving the market as higher borrowing costs and new state taxes eroded returns. It cited PIPA research showing property taxes collected by the Australian Taxation Office, excluding capital gains tax, reached $68 billion in 2023, a rise of 73 per cent over a decade, with vacancy rates near 1 per cent.
Reported by
James Kirby, The Australian, 27 May 2024
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