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Greens target property developers and pokies in $380m tax plan

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The Greens say the vacant property levy could generate $35.29 million. Image / Stock

The Tasmanian Greens have unveiled new tax proposals targeting property developers and gaming machine operators, aiming to raise $380 million over four years.

The party has announced three key revenue measures, including a 75% tax on rezoning windfall gains and a significant hike in poker machine taxes.

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Candidate Cecily Rosol said the measures would force developers and “pokies barons” to “pay their fair share”.

“Tasmania’s budget is in a mess after a decade of the Liberals,” she said.

Bass candidate for the Tasmanian Greens Cecily Rosol. Image / Pulse

“Despite expert warnings, the Liberals have been letting their corporate mates profit off Tasmanians.”

The biggest revenue earner would be lifting the electronic gaming machine tax rate to 45% across all venues, expected to generate $174 million.

A 75% tax on rezoning windfall gains is one of the key proposals. Image / Stock

Tasmania currently has the lowest EGM tax rates in Australia, ranging from 10.91% to 33.91%, compared to rates as high as 65% in South Australia.

A rezoning windfall levy, similar to the ACT’s model, would capture 75% of property value increases when land is rezoned for development.

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The Greens estimate this would raise $173.85 million over four years.

The party is also proposing a 1% levy on vacant residential properties, excluding holiday shacks and homes under renovation.

Gaming machine taxes could increase significantly under the Greens’ proposals. Image / Pulse

With the Tenants’ Union of Tasmania estimating at least 1,468 to 1,932 homes sit completely empty, this measure could bring in $35.29 million.

“In the balance of power, the Greens will take the steps the major parties won’t to get the budget back on track,” Rosol said.

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