Dominic Perrottet has made no secret of the fact that there is one reform agenda he wants as his legacy, but time is not on the premier’s side. The mourning period for the Queen this week – followed by a surprise public holiday – has left him just 17 days to overhaul one of the most politically fraught taxes before the state election in March.
Matt Kean, his successor as treasurer, wanted to shape his first budget around boosting women’s workforce participation, and, in exchange, Perrottet was given the space to move ahead with his stamp duty reform. Sold as a measure to address housing affordability across NSW, the slimmed-down version of Perrottet’s plan will be focused on first home owners.
But in a similar vein to stamp duty reform, the shared-equity trial looks increasingly unlikely to be ready by January. It may require legislation, and will certainly need to go through a tender process to secure a banking partner, which is how a similar scheme operates in Victoria.
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