Young Farmers Left High And Dry By Baillieu And Wells
The Baillieu Government has failed to fulfil its election commitment to cut stamp duty for young farmers, after it was revealed that the reforms will not apply to the majority of farmers, Shadow Minister for Agriculture John Lenders said today.
Mr Lenders said Baillieu Government reforms were flawed because young farmers with property valued over $400,000 still had to pay the full stamp duty amount.
“We warned the Coalition that their changes would exclude a large number of young farmers, but they forged ahead regardless,” Mr Lenders said.
“It should come as no surprise that this has turned into a shambles.”
Mr Lenders said it was another example of Treasurer Kim Wells not grasping the detail of his portfolio.
“In order to provide the benefit to young farmers that the Coalition promised at the election, Kim Wells needed to include a tax ruling in the legislation,” Mr Lenders said.
“Labor made this very clear in Parliament, but Mr Wells ignored this advice and he is now responsible for this lame policy.
“This is typical of the Baillieu Government. It either does nothing or it gets completely wrong.”