Victorian owners of second homes and investment properties will contribute much of the state’s $8.6 billion in COVID-19 debt levies, with the land tax threshold cut to $50,000 and the number of payers rising from about 480,000 to 860,000. Treasurer Tim Pallas defended the impost as modest. PIPA chair Nicola McDougall called the policy absurd and predicted investors would leave the state.
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