Stamp duty alone contributes more than 20 per cent of the total revenues of the NSW, Victoria, Western Australia and Northern Territory governments.
Now is the time to give back to first home buyers and make selling more attractive to older Australians who are sitting on the family home because of stamp duty bracket creep.
Land tax is a narrow based tax that only applies to property. It should be replaced by an increased GST.
REIA has long argued stamp duties are a highly inefficient tax that limits population mobility as highlighted in the Henry Tax Review.
The Real Estate Institute of South Australia and the Real Estate Institute of Australia argue for an adjusted GST to replace stamp duty revenues.
Industry push to overhaul property taxation following government's tax discussion paper.
Accounting professional body CPA Australia has proposed scrapping stamp duty on property conveyancing and lifting the GST to make up any funding shortfall.
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