Another day, another parliamentary inquiry - Cashmore and Collyer


Catherine Cashmore and David Collyer present to The House of Representatives economic committee inquiry into Home Ownership


The House of Representatives economic committee inquiry into Home Ownership was opened with fanfare and encouraging comments by chair John Alexander (Liberal, Bennelong):

“Some have said we are on track to becoming a Kingdom where the Lords own all the land and the biggest Lord will be King and the enslaved serf tenant is paying rent to the Lord to become wealthier. Is that an over-dramatisation or is it very, very close to the truth?”

This sits next to Prosper’s view that rent is a private tax landowners charge tenants, and land is the best tax base available to government. Could the committee see moving tax off labour and enterprise onto land would turbocharge economic activity?

Catherine Cashmore and David Collyer presented to the committee for Prosper Australia in Melbourne Friday 14 August.

The causes of Australia’s misery were outlined in our introductory remarks.

* Restrictive planning that directs buyers to a handful of locations
* A massive infrastructure deficit that makes greenfield land most unattractive,
* A staggering appetite for debt
* Very bad tax laws

We can fix the planning rules. We can build more infrastructure. We can regulate the banks to better judgement. But unless we change how and where we tax ourselves, land price booms and busts will continue to destroy lives.

Prosper Australia’s submission urges the Abbott government to impose a one per cent federal land tax – fully rebatable against state land tax paid – to oblige the states and territories to stop using taxes we know cause genuine economic injury.

The Commonwealth is entitled to argue this intervention is for sound economic reasons and dissipate the inevitable rentier political abuse.

We talked about planning and urban boundaries and Precinct Structure Zones; using land tax to prompt developers to sell rather than land-bank; and migrating Melbourne from a radial layout to a matrix.

At the end I raised Prosper’s key theme – Stamp Duty costs taxpayers $1.70 for each dollar raised, while State Land Tax costs 90c. Tens of billions of dollars are cast on the ground every year by Stamp Duty. A 1 per cent federal nil-exemption land tax, fully rebatable against State Land Tax paid, would oblige the states and territories to heed the consistent advice from the federal and state Treasuries: migrate taxes to land; end the deadweight losses in bad taxes like Stamp Duty, Payroll Tax and the cursed GST. Our country will flourish.

Will the committee take this advice back to government? We don’t know. But they cannot claim innocence about the very bad taxes imposed on us.

The full transcript is here.


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Cashmore & Co are experts in market cycles and property investment 

Catherine Cashmore has accrued many years experience working in the Australian real estate market. She is President of Australia's oldest economics organisation (Prosper Australia) and has lectured widely on the real estate cycle and the economics of land.

it's this knowledge that sets Cashmore & Co apart from other real estate agencies. 

Cashmore & Co won't 'spruik' the market, or try and convince you that it's always a good time to buy.

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Whether it’s getting into a suburb you thought was out of reach, saving a hundred grand by avoiding a too-good-to-be-true apartment pitch, or getting a foot through the door in a hot market, Cashmore & Co has all the practical property ‘hacks’ to place you ahead of the competition.

Investors not only gain assistance with their property investments, with Cashmore & Co they have access to a treasure trove of advice and strategies that help extract the maximum amount of wealth creation from the 18-year cycle that you will not get anywhere else. 

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About Catherine

Catherine Cashmore

Owner & Director

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Catherine Cashmore has been working in the Australian real estate market for over 14 years.

Originally from the UK, and having also lived in the US, Catherine has extensive experience across a range of international real estate markets.

As a buyer and seller advocate, Catherine has assisted hundreds of home buyers, investors, and developers, find, assess, and negotiate, quality real estate for great prices throughout Australia.

She is President of Australia's oldest economics organisation, Prosper Australia - an organisation that has conducted vast amounts of research into the economics of land, market cycles, and the intricacies of how tax and government policy affect the markets.

Catherine is a regular and highly respected media commentator. She has often been called upon to guest lecture at universities and educational institutions (including RMIT and Sydney University) on how tax policy affects the real estate market, the design of cities, and the economy.

She is the editor of Fat Tail Investment Research's Cycles, Trends, & Forecasts, Catherine Cashmore's Land Cycle Investor, and Catherine Cashmore's Real Estate Wealth Course – publications that teach real estate and stock market investors about the land cycle, its impact on the economy, and how to create wealth from property and stocks using this knowledge.

She is also one of the former editors of the extremely popular The Daily Reckoning Australia (or the ‘DR’ as it's affectionately known to its 60,000 subscribers).  The DR is an independent financial news broadcaster that has been in the business of reporting financial trends that shape the economy since 1999.

Previously authoring the annual ‘Speculative Vacancies’ report, the only study in the world that analyses long-term vacant housing based on water usage data (Australia-focused), Catherine has an in-depth knowledge of the Australian real estate market and economic environment few can rival.

You can contact Catherine directly on 0458 143 089 or at 

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