
The aim of my super tax would be to grab all the additional capital value created by not developing Callan Park. Here's my maths.
Let's say this dump was worth $1 million a few weeks ago. Then the decision was made to not give the land to Sydney Uni, and let's say this house suddenly shot up in value to $1.2 million because of that. My super-tax would take that additional $200k, because the increase in value has nothing to do with a rising property market or improvements to this house - it's due to a policy decision by government. If people can be compensated when government decisions reduce the value of their property, then they can be un-compensated when government decisions deliver windfall capital gains to them.
I wonder if these people would be so pushy in regard to sites like Callan Park if they realised up front that they weren't going to make a cent out of it, regardless of the outcome.
In short, that would fuck 'em.
By the way, such a tax would raise a lot of money, for there are a lot of signs like this scattered around Callan Park.
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