Stamp duty is the nation's biggest source of revenue, last year raising $7.5 billion for New South Wales.
Treasurer Dominic Perrottet said there was no better time to get rid of inefficient taxes that held back economic growth. The axe is part of a five-point recovery plan focussed on productivity, tax reform, deregulation, trade and investment. Image: Getty
This is ridiculous & is another sign we are becoming more & more like USA! Why can’t we follow NZ? We already pay local authority rates (tax) so how can they double dip & replace stamp duty with land tax ? & what happens when you retire? Do you keep paying land tax?
Taxation is theft! Good job NSW Government 👍👍👍
They want to introduce Land Tax to replace Stamp Duty “to help us”
mirandadevine macsween_prue kelliekelly23 latikambourke GladysB JoshFrydenberg DamTom79 ScottMorrisonMP National Cabinet behind this too as several states are doing same now Dumps stamp duty make it much easier to buy a home for people National Cabinet is a winner
So what happens to those who’ve just paid it
Stamp duty was suppose to die when Howard introduced GST. Greedy states.
Here comes a rise in the GST then. Berejiklian must have been told by Morrison that he'll bump up the GST using the economic disaster caused by the Covid19 measures as an excuse. Snap back? More like he'll be hitting the poorest the hardest, so he can gift his donors.
Australia should be doing this ,not NSWs, but good on them.
Narwee2209 The broke government needs to tax legal dope smoking.
What is Palaszczuk doing for Qld
Don’t hold your breath Victoria
jackietrad AnnastaciaMP DebFrecklington TimManderMP JarrodBleijieMP pm_live PMOnAir PaulineHansonOz PeterDutton_MP
That $9 billion unemployment deficit will ballon to $20 billion and in a hurry too so let’s keep it together, let’s be rational and let’s just go on with our day
Better late than never
When is it going to be axed? 1 month, 2021 or gradually? In the interim it'll crash the property market more as prospective buyers will put any purchase on hold.
To be replaced with other taxes that will get the govt more income more often.