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Originally Posted by Ab
I hate to sound like a godless communist, but I would wager that the wage bill of all those unnecessary public servants is a rounding error next to the revenue the state missed out on by not taxing capital gains on all those property sales.
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Agreed. Here, in the workers paradise of Queensland property buyers are required to pay stamp duty on any house they purchase. It means our rates are super low compared with Auckland, and the services provided by the state is a lot more than Auckland.
There's also some CGT which enables the govt to take a pretty big chunk of taxable revenue as well.