Prosper Australia

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Today, the Queensland government announced the abolition of stamp duty on new homes for first-home buyers. Sounds good? Not unless it's part of a transition to land tax, which ensures land is used to its full potential. Reducing the land value tax-free threshold to ensure profit-seeking landowners pay their fair share could have been an easy tax switch to make. This was a missed opportunity for meaningful tax reform. The shift from stamp duty to land tax isn’t as straightforward as it seems, which is why we’ve developed a transition design model. Learn more about it here: https://lnkd.in/gwi8tPA Queensland also stands to benefit from refining its resource royalties. Our latest report explores the current Queensland model and demonstrates how all states could benefit from improved resource pricing. With further adjustments, Queensland could fund cuts to economically harmful taxes like payroll tax. https://lnkd.in/g4wNQUjy

ICYMI: In 2024 Prosper hosted Pro. Sock-Yong Phang for our annual Henry George Address. Her presentation on the Singapore Model for housing was inspiring and motivating for housing reformers in Australia. The economic potential of land value capture is huge. Singapore is the greatest case study to show us all what's possible. WATCH: https://lnkd.in/gBrT_67F

We need a #TaxShift for our future. From taxes harming workers and industry to taxes on unearned income and monopolies. For economic justice, prosperity, and the environment. Read and download more https://lnkd.in/gnnYZqj7 #TaxReform

We're really pleased to get behind the new campaign from Think Forward to tax wealth, not work. Australia is a wealthy country. However, the gap between the haves and have-nots is growing instead of shrinking. That's not due to a lack of people wanting to give it a go but rather a tax system that rewards the wrong parts of our economy. We need a tax shift. Support the campaign and sign the open letter today.

In 2025, Australians will decide who will lead the next Federal government. No matter who wins, tax reform will be a key agenda item. We don't need to reinvent any wheels. The work has already been done to understand the shape of the changes required via the Henry Review. We ought to look to other jurisdictions for successful implementation strategies. One of the global success stories is Norway's approach to super-profit taxation. As explored in our recent Resource Royalties report. Australia could gain $60bn a year if we captured the same resource value as Norway. Norway’s Finance Minister has some advice for governments designing tax systems. It’s well worth a read. https://lnkd.in/g-mcnASY

Welcome to 2025! Here at Prosper we are preparing for a big year in economics. With an upcoming federal election on top of cascading social and environmental challenges, the debates around solutions are heating up. We believe a just and equal society is possible with the right economic frameworks in place. We need a #TaxShift to make that happen. Let's do this. p.s. Are you enrolled to vote? Is everyone you know? https://lnkd.in/gRqQZf5

It's been almost 15 years since Australia's Future Tax System Report, the Henry Review, was published. The key findings of that 'root and branch' review of our tax system showed there was a lot to do. However, it demonstrated key areas of focus and benefits for all of Australian society for a Government prepared to take leadership and put a comprehensive plan in place. Unfortunately, we've been lacking such a government. Next year's federal election is shaping up to be a once-in-a-generation opportunity for a government elected with a mandate for tax reform. Because the consensus about the need for reform is there - across business, community, and economic sectors. We need to make sure both major parties, the minor parties, and independent candidates hear the message loud and clear that we can't solve society's problems without tax reform. That's why Prosper is proudly putting our name to the Community Tax Summit 2025, organised by Per Capita Australia. And we're thrilled Dr Ken Henry will be delivering the opening address. The Summit aims to put everything on the table. Because this is the debate Australia has to have, and we need the next government to commit to tax reform in the next term. Tickets are on sale now. See you there. https://lnkd.in/gDqpjTJb

LISTEN: On ABC Statewide Mornings with Jonathon Kendell, Prosper Australia advocacy director, Rayna Fahey discusses the role land speculation has to play in our housing crisis and what we can do to fix it. https://lnkd.in/gVuDRD5S

ICYMI: Our latest report is out now. Resource royalties funded 50 cent fares in Queensland. What else could we fund if we priced royalties to capture a larger share of profits during boom times? https://lnkd.in/g4wNQUjy