Monday, September 01, 2003

Land Rent System bound to fail: "Almost half of NSW, more than 37 million hectares, is managed by the Lands Department. It also represents the largest parcel of commercial land in the state and most of it is leased to fewer than 18,000 individuals and companies for a total of about $60 million a year. It doesn't take a genius to figure out that the return for taxpayers is less than $2 a hectare. Most of the property is farmland, ranging from the most fertile valleys of New England to dusty fields at the back of Bourke. But a lot can also be found in Sydney, Newcastle, Bathurst and coastal areas up and down the state."

This is a good series of articles in the Herald which all buy states the principle that the land belongs to the people of NSW and the people through their elected government are entitled to the full market value of these leases, which will in turn reduce taxation to that extent.

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