Welcome back to another episode of the 360 Money Matters Podcast!

In this episode, we're talking about Victoria's new land tax changes. The Victroian government has introduced increased land tax for a ten-year period starting in January 2024 to repay Covid debts. But some people aren't sure if these taxes will stop after ten years. This affects property owners with investment properties, who now face higher costs for owning and maintaining properties. It's tough for investors, and might lead to higher rents and greater levels of sales activity for investors who want out. Having a solid financial plan is important during uncertain times like this.

Click subscribe, hit play now, and understand this context of land tax changes critically!

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This podcast contains information that is general in nature. It does not take into account the objectives, financial situation, or needs of any particular person. You need to consider your financial situation and needs before making any decisions based on this information. This information is provided by Billy Amiridis & Andrew Nicolaou of 360 Financial Strategists Pty Ltd, authorized representatives and credit representatives of AMP Financial Planning – AFSL 232706

Episode Highlights

• Changes to land tax and why it was introduced

• Government's dependence on taxes

• Impacts of increased tax on investments

• Potential implications for the property market

• Importance of planning and having a buffer

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