that home buyers be given the choice to either pay stamp duty up front or pay a smaller annual property tax. Once a property has been designated as attracting land tax, it would remain so, even when resold. Premier Dominic Perrottet has called the idea a “once-in-a-generation reform” that would take the NSW economy up a gear.
NSW Premier Dominic Perrottet said tax reform would only be achieved if the federal government came to the table. The NSW government has estimated that, once introduced, an optional annual tax would collect about 20 per cent less revenue, which equates to a projected shortfall of about $2.5 billion a year. In Victoria, the figure is thought to be close to $2 billion.
“As far as tax reform ... that would do the most to improve living standards, this is at the top of the list,” Coates said. “This is a reform that is in the national interest that would substantially boost people’s income and substantially boost the tax take for the federal government,” Coates said.
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Stamp duty reform on table as Chalmers backs states’ property tax talksA radical overhaul of property taxes – including the possible phasing out of stamp duty – will be discussed at a meeting of state treasurers next month. | joshgordo property stampduty joshgordo When governments say 'tax reform' it normally means Australians get slugged again. joshgordo Negative gearing is wrong joshgordo High land taxes will be the solution to recovering stamp duty losses.
Source: theage - 🏆 8. / 77 Read more »
Stamp duty reform on table as Chalmers backs states’ property tax talksA radical overhaul of property taxes – including the possible phasing out of stamp duty – will be discussed at a meeting of state treasurers next month. joshgordo Death tax on way joshgordo Be better to reform the whole property investment industry. It's destroying society. joshgordo Socialist governments don’t want you to own your own houses. They want you to rent them off the government for the rest of your life. Not only will you have your mortgage payments, but you will also have property taxes (3 or 4k per year) for the rest of your life. stampduty
Source: smh - 🏆 6. / 80 Read more »
Stamp duty reform on table as Chalmers backs states’ property tax talksA radical overhaul of property taxes – including the possible phasing out of stamp duty – will be discussed at a meeting of state treasurers next month. joshgordo Death tax on way joshgordo Be better to reform the whole property investment industry. It's destroying society. joshgordo Socialist governments don’t want you to own your own houses. They want you to rent them off the government for the rest of your life. Not only will you have your mortgage payments, but you will also have property taxes (3 or 4k per year) for the rest of your life. stampduty
Source: smh - 🏆 6. / 80 Read more »
Stamp duty reform on table as Chalmers backs states’ property tax talksA radical overhaul of property taxes – including the possible phasing out of stamp duty – will be discussed at a meeting of state treasurers next month. | joshgordo property stampduty joshgordo When governments say 'tax reform' it normally means Australians get slugged again. joshgordo Negative gearing is wrong joshgordo High land taxes will be the solution to recovering stamp duty losses.
Source: theage - 🏆 8. / 77 Read more »