$1 billion stamp duty scandal: REINSW demands refunds as NSW prepares budget
REINSW claims home buyers may be owed around $1 billion in stamp duty overpayments as the NSW Treasurer prepares the state Budget.
In recent years, the NSW Government has collected between $9 billion and $12+ billion annually in stamp duty (transfer duty) revenue. (Image source: Andrii Yalanskyi/Shutterstock.com)
The Real Estate Institute of NSW (REINSW) has escalated pressure on the NSW Government, claiming home buyers may have been overcharged up to $10,000 each in stamp duty over the past four years, with a potential total refund bill approaching $1 billion.
As Treasurer Daniel Mookhey finalises the state Budget this month, REINSW is urging him not to ignore the issue.
REINSW CEO Tim McKibbin says the overpayments stem from incorrect indexation of stam…
