80% windfall on property rezoning abolished

[Brendan Burgess]

Will be subject to ordinary CGT

 

[Brendan Burgess]

[FONT=&quot]Windfall tax[/FONT][FONT=&quot][/FONT]
[FONT=&quot]Windfall tax provisions introduced in 2009 which apply an 80% rate of tax to certain profits or gains [/FONT] [FONT=&quot]from land disposals or land development, where[/FONT][FONT=&quot][/FONT]
[FONT=&quot]those profits or gains are attributable to a relevant planning decision by a planning authority, are being abolished from 1 January 2015.[/FONT]

 

[shweeney]

Good news for farmers living near commuter towns.

What is the rationale for this change?

 

[44brendan]

Promote sale of landbanks to accelerate construction!