Australian Property Journal –
THE NSW government has proposed a once in a generation tax reform to replace the 155-year old stamp duty and land tax with an annual property tax, in a move that will inject $11 billion over four years into the economy.
In the 2020-21 budget, NSW Treasurer Dominic Perrottet labelled stamp duty “a relic”, saying it is one of the biggest financial barriers to home ownership and land tax places a large tax burden on a small number of taxpayers.
