Victorian stamp duty abolished, while NSW government reverses earlier reforms
The Victorian Government has used its annual budget to remove one form of stamp duty, while the New South Wales Government has reversed stamp duty reforms put in place by the previous government just five months ago.
The latest Victorian budget included huge news for commercial and industrial property investors but less for those struggling with the rental crisis. (Image source: Shutterstock.com)
The Victorian Government has used its annual budget to replace stamp duty for commercial and industrial properties with an annual property tax, while leaving the cash cow that is residential stamp duty untouched.
Owners of holiday homes in Victoria were also in the crosshairs of the Daniel Andrews government.
As part of a Covid debt levy, around 860,000 Victorians will be affected by a decision to charge those with second homes or investment pr…
