Letters to the Editor: Residential zoned land tax is open to challenge
A reader writes: 'The RZLT is being imposed to penalise farmers wishing to keep their land and the 30% LVS combined with an excessive 33% capital gains tax attempts to penalise them for selling it.' Picture: iStock
The Government’s plan to impose the residential zoned land tax (RZLT) and the proposed land value sharing (LVS) initiative raises the real prospect of trampling on constitutional property rights.
The RZLT is being imposed to penalise farmers wishing to keep their land and the 30% LVS combined with an excessive 33% capital gains tax attempts to penalise them for selling it. This combination of measures amounts to a constructive seizure of the land — taxed if you stay, taxed if you go.
