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Stamp duty reform crucial for economic rebound

COVID-19 has placed stamp duty reform back on the agenda in Victoria, New South Wales and Western Australia, with state governments expected to face tumbling revenue due to a sharp reduction in transaction volumes during the crisis.

Stamp duty reform crucial for economic rebound
Stamp duty has long been considered one of Australia'a most inefficient taxes and an inhibitor to housing transactions. Photo: Shutterstock

COVID-19 has placed stamp duty reform back on the agenda in Victoria, New South Wales and Western Australia, with state governments expected to face tumbling revenue due to a sharp reduction in transaction volumes during the crisis.

While the notion of stamp duty reform has been kicking around for decades, economic forecasts post COVID-19 have most experts agreeing that for Australia to return to its previous prosperity, tax reform is urgently n…