Business
$33,860 problem with abolishing stamp duty – Yahoo Finance Australia
Property expert Michael Yardney says axing stamp duty isn’t as simple as it sounds.
Will abolishing stamp duty cause more issues than it will solve? Source: Getty
All property purchasers in NSW could soon be exempt from paying stamp duty on new property purchases under a new government proposal.
While the plan may seem like a good idea to some, Im not really convinced it will be as widely beneficial as many people think.
What is stamp duty?
Before we discuss the proposal and its benefits and hindrances, lets first clarify what stamp duty actually is.
Stamp duty is a one off tax…
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