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South Australia was the first Australian state to introduce a land tax, based on the unimproved capital value of land, in 1884. [6] [7] In 1910, George Allen (first secretary to the Treasury) founded the Land Tax Office to service land taxes at the federal level as a form of wealth tax and as a means to break up large tracts of underutilised land.
Selection is the act of choosing and acquiring a subdivided tract of land for farming purposes in Australia. A selection is also descriptive of the plot of land that was selected. The term derived from "free selection before survey" of crown land in some Australian colonies under land legislation introduced in the 1860s. These acts were ...
The Australian property market comprises the trade of land and its permanent fixtures located within Australia. The average Australian property price grew 0.5% per year from 1890 to 1990 after inflation, [1] however rose from 1990 to 2017 at a faster rate. House prices in Australia receive considerable attention from the media and the Reserve ...
With the breakdown of the Bretton Woods system in 1971, Australia converted the traditional peg to a fluctuating rate against the US dollar. In September 1974, Australia valued the dollar against a basket of currencies called the trade weighted index (TWI) in an effort to reduce the fluctuations associated with its tie to the US dollar. [21]
One real estate agent estimated the Zammit property value to be just shy of $50 million Australian dollars ($33 million) in new developments, Australia's 7News reported in March of last year.
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A property investor can utilise calculations such as the Land-to-Asset Ratio. The land-to-asset ratio is a real estate valuation measure that compares the value of the land on which a property stands to the total value of the property - including the land, buildings, and any improvements.
Fassifern Homestead is a single-storeyed timber residence erected c. 1880 to replace an earlier homestead on the same site. The Fassifern run, first taken up by John Cameron in 1841-1842, was one of the earliest licensed runs in the Moreton pastoral district, which was proclaimed on 10 May 1842.