On 23 May, the Victorian Government announced a new tax levy on investment properties as part of its 2023-24 budget.
The new tax is designed to help the state government pay down a borrowing debt of $31.5 billion incurred during the COVID-19 pandemic and resulting long lockdowns.
Some Victorians who own investment properties or holiday homes have expressed concern at the changes.
In an interview with SBS Punjabi, mortgage broker, Maninder Kaur, says the new tax could add to cost of living stress.
She says there are a few considerations that a person with multiple properties should keep in mind.
For Victorians considering buying a second property, Ms Kaur also has a list of things to consider.
To listen to this interview in Punjabi, please click on this audio.
