Business
Stamp duty choice is seductively simple – or is it? – The Australian Financial Review
Just as stamp duty distorts economic activity, so its removal will distort real estate behaviour and values.
Economists have long championed stamp duty reform. The Productivity Commissions five-year review in 2017 recommended the removal of stamp duty on residential and commercial property and its replacement with a broad-based land tax based on unimproved value as a way of improving both the cities and national living standards.
The Perrottet concept is seductively simple. On a $1 million purchase in NSW, a homebuyer will have the choice of paying the current stamp duty, of about $40,335, or opt for a…
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