From the Infrastructure Australia report Capturing Value:
Over time Australian governments should look to introduce a more consistent approach to value capture. Transitioning to a broad-based land tax – alongside the removal of stamp duty – will eliminate many of the challenges posed by individual measures and provide a permanent, more efficient method of value capture which can help fund the infrastructure Australia needs over coming decades.
And Left uncaptured, this value uplift is enjoyed by the fortunate few who own land close to the hub, despite often having done nothing to earn this windfall gain.
Good to see Infrastructure Australia citing three Prosper Australia reports, including The First Interval, Dr Cameron Murray’s story of the Australian Capital Territory’s encouraging transition from stamp duty to land tax.