Hockey's national farmland register

13 Nov, 2014 07:18 AM
Comments
3
 
I was trying to cut the red tape associated with notification and get the States on board

TREASURER Joe Hockey says bureaucracy and a lack of co-ordination from states on agricultural land titles has forced him to take a national approach to creating a farmland register.

"We are developing a register. At the moment the States don't keep the detail," he said, "I was trying to cut the red tape associated with notification and get the States on board through their land titles offices, but I've virtually given up on that, now I'm going to have to set up our own register."

William Inglis & Son rural property sales manager Sam Triggs questioned the need for a register and said a new $15 million benchmark for Foreign Investment Review Board approval (cut from $238 million) was too tough.

"I understand that a register may help to appease any public angst, but fundamentally if you remove investors from the market then demand is reduced and that may soften the market."

"I think the big offshore investors need critical mass and scale to make it efficient so they will probably need to spend more than $15 million."

AFR
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READER COMMENTS

wtf
13/11/2014 10:51:26 PM

What proportion of state revenue come from stamp duty? I think on average its over 40%. Would an agent be worried about the viability of farmers in a world of land prices set by non accountable state owned enterprises and inflationary fractional reserve banking? Obviously not.
Ted O'Brien.
19/11/2014 9:02:08 AM

National farmland register? Now that sounds something like what Peter Garrett had in mind when he declared in the lead up to the 2007 election that he expected a "Labor" government woulld tell the farmers what to produce. Central Planning. Be careful what you ask for.
Chick Olsson
7/12/2014 8:28:55 AM

Ted Obrien is totally correct. Be alert as Governments will try any subterfuge to increase taxation revenues in light of looming budget deficits.

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