Rachel Ong and Gavin Wood write in The Conversation (20.4.16) about proposals to replace states’ property stamp duties with a more equitable land tax system.
‘Before the government considers company or personal income tax cuts, it should help the states replace property stamp duties with a broad based land tax argues the Australian Council of Social Service.
‘It is well recognised by tax experts that land taxes are a more efficient tax than stamp duty. Indeed Treasury modelling released earlier this month confirmed what theory has long proposed – that stamp duties are a drag on the economy, raising the price of housing and adding to the upfront costs that homebuyers pay to break into the home ownership market.’
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- Swapping stamp duty for land tax would push down house prices but push up apartment prices, new modelling finds »
- The NSW government’s land tax announcement explained – is this the beginning of the end of stamp duty? »
- Victoria shows Australia how to finally abolish stamp duty once and for all