Stamp duty on its way out in NSW
One of Australia’s most criticised and inefficient taxes is being overhauled in New South Wales, with property buyers set to be given the choice to opt out of stamp duty and instead pay a smaller annual levy.
The pathway to home ownership could be easier soon in Australia's most expensive real estate markets. Photo: Shutterstock (Image source: Shutterstock.com)
One of Australia’s most criticised and inefficient taxes is being overhauled in New South Wales, with property buyers set to be given the choice to opt out of stamp duty and instead pay a smaller annual levy.
NSW Treasurer Dominic Perrottet launched a public consultation process as part of his state budget this week, asking the community for input on the proposed tax reform which would reduce up-front costs for property buyers.
Mr Perrottet sai…
