this post was submitted on 22 Oct 2024

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Stamp duty 'a bad tax' that distorts the market, housing minister says, welcoming shift to land tax (www.abc.net.au)

submitted 1 month ago by Longmactoppedup@aussie.zone to c/australianpolitics@aussie.zone

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[–] nevetsg@aussie.zone 8 points 1 month ago

The previous NSW Gov implemented a choice model of one big Stamp Duty payment or ongoing yearly payments. All it did was increase the price of houses by the amount of the Stamp Duty, and also increase rent as landlords could offload the yearly cost to the tenants.
The choice was removed again by the current Gov.