Sharing Ideas that Do Good


Search by topic:


NSW to phase out stamp duty

post-image

NSW will undertake the state’s biggest tax reform in decades with stamp duty to be phased out to boost the economy as NSW records a historic $16 billion budget deficit. Stamp duty will be replaced with an annual land tax on new property transactions as a key stimulus measure.

This follows a NSW Review of Federal Financial Relations, led by David Thodey AO. The Review showed how property transfer duty is a costly tax that impacts citizens’ freedom to move throughout the seasons of life. It can have the worst impact on first-home buyers and seniors.

A broader land tax will be fairer, more efficient and less volatile. 

https://www.smh.com.au/politics/nsw/nsw-to-phase-out-stamp-duty-as-state-announces-record-deficit-20201116-p56f4w.html



What do you think?


You must be logged in to post a comment.

Related Posts

PropTech

post-image

What is a green roof?
4 February 2024 by Jennifer Harr... 2 Comments

PropTech

post-image

Modern concrete construction methods make a big impact
21 January 2024 by Jennifer Harr... 0 Comments

PropTech

post-image

Catching risky property developers
20 January 2024 by IdeaSpies 1 Comments

Why support us financially?

"Great ideas, research and innovation can come from anyone – so often the best ideas do not have a voice. IdeaSpies provides a platform for people to share ideas that create a better world"
David Thodey AO, Patron