Court rates decision good news for investors
A LANDMARK Supreme Court of Queensland decision to set aside a residential property investment rate in Mackay is just the news Trevor Rufus has been waiting eagerly to hear.
Now he patiently waits to see if the court decision will have a domino effect which will flow through to Rockhampton.
Trevor was among 400 investors who jumped aboard to support the fight against the Mackay Regional Council decision last year to hit investors with increased rates on their investment properties.
Although Mr Rufus does not own residential property in Mackay, he believed the "unfair" rate rise was an added strain on the pockets of investors.
Many were forced to pass on the extra cost to their tenants.
"It was unfair because many tenants were already struggling," he said.
Quite a number of residential property investors have had to pass on the added cost to their tenants after a number of Queensland councils last year increased rates on properties that weren't an owner's principal place of residence.
Although Trevor owns a commercial investment property, Elphinstone St's Rufus Design Group, and he wasn't affected by Rockhampton Regional Council's non-owner occupier rate, he supported the fight 100%.
"I think common sense has prevailed here," he said.
"This is a great outcome... the council has other ways of making its revenue," he said.
"It will be nice to see a domino effect across the state with the other council's setting aside the rate."