NSW Treasurer 3 Years Old When Stamp Duty Last Reviewed: REINSW
NSW stamp duty brackets haven’t been reviewed since 1986 when the median house price was $80,675* compared to the current median house price of $1,033,892, according to the Real Estate Institute of New South Wales.
REINSW President Leanne Pilkington said to put into context how long it is since stamp duty brackets were reviewed, the current NSW Treasurer Dominic Perrottet was three years old and Shadow Treasurer Ryan Park was nine.
“A lot has happened since NSW Treasurer Dominic Perrottet was three years old and Shadow Treasurer Ryan Park was nine,” Ms Pilkington said.
“It is disappointing to see that so much time has been allowed to pass by without an adjustment to stamp duty brackets.
“The NSW Government must commit to a review of stamp duty brackets in the upcoming June Budget,” Ms Pilkington said.