DEAR News Of The Area,
I’M following up on the train of logic penned by Paul Davies in last week’s Opinion pages (NOTA, 17/7/26).
His concerns related to the perceived tax grab in federal capital gains tax legislation. That’s an increased cost on all Australians.
Turning to the State government, it’s likely the Premier will also require increased rates and charges at some point as cash cows like stamp duty on real estate come under increasing pressure.
Big-ticket items like housing require confidence in our future and that is clearly under pressure.
Locally, we just paid our annual Port Stephens rates charge of some $2500 and I thought of Leah Anderson’s pharaonic plans for a CBD in Medowie and a 500-seat performing arts centre in the Bay.
All this on the back of low-interest rates that risk rising significantly in the years ahead.
Lord Mayor, now is not the time for grandiose projects with other people’s money. History won’t thank you for the additional financial stress starting to manifest itself in our community.
Regards,
Les Robinson,
Nelson Bay.
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