Financial Hardship a consequence of Labor's Taxes

FINANCIAL HARDSHIP - HITTING HARD THOSE AFFECTED BY THE LAND TAX & ABSENTEE SURCHARGE.  

That's the reality - Financial Hardship. QLD Labor adopted a shortsighted or rather dismissive, disrespectful and unethical approach to Queenslander Home Owners and Australian property investors into Queensland. Most of us are not wealthy. Investments are made up of Superannuation, life savings, mortgage,etc. 

Rental income derived whilst holding the property is what is used to subsist a living. Commonly, Australian property owners are considered 'asset rich and cash poor'. 

The corporate rate Land tax combined with the Absentee Surcharge is now carving a huge dent into 'mum and dad owner/investors', retirees, expats and others' nest eggs, or bank savings causing financial hardship. It is unsustainable for many. 

Queensland land valuations are set to increase according to the latest predictions,meaning that this will just create more pressure to hold the property with reduced ability to survive on income streams for those on lower to middle income wages, pensioners and self-funded retirees. Investors bought in good faith of the legislation that they relied on pre-Budget. 

The Budget did not even provide any exemption for pre-existing owners and investors - investing many hundreds of thousands totally unaware of what was going to be announced. It was a carte blanche approach to snare everyone in the net. 😡