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The 2017 Budget proposes significant administrative and cost burdens on vendors and purchasers of land, says the Australian Institute of Conveyancers (SA Division).
“A service for all who invest in property,” says Danny Schwartz, founder of GST WeFund.
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It is important to know the differences between the two, as there may be implications for capital gains tax, income tax and GST.
Victoria and Queensland believe a 51% top tax rate is fairer than increasing the GST.
We need a mature debate about abolishing this inefficient and outdated tax and replacing it with a modest land tax across all owners.
We need to modernise our taxation system, says Treasurer, echoing the sentiments of the property industry.
A survey commissioned by the Property Council of Australia shows Australians consider a GST to be fairer than stamp duty.
The Real Estate Institute of South Australia and the Real Estate Institute of Australia argue for an adjusted GST to replace stamp duty revenues.
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