Industry backs stamp duty phase-out as NSW moves forward
Industry groups roundly agree that stamp duty should be phased out and replaced with a broader land tax across Australia, as the New South Wales state government makes progress on its plan to reform its property tax system.
Stamp duty has long been thought of as one of the biggest barriers to home ownership in Australia. Photo: Shutterstock (Image source: Shutterstock.com)
Industry groups roundly agree that stamp duty should be phased out and replaced with a broader land tax, as the New South Wales state government makes progress on its plan to reform its property tax system.
State governments around the country have become increasingly dependent on stamp duty for revenue, despite it being universally recognised as one of the most inefficient and inequitable taxes.
But the debate over any possible change needs ne…
