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Sorry Nemo30, didn't mean to repeat you. The ACT government have got it spot on in terms of good tax policy though. Stamp duty is very innefficient, distorts behaviour significantly and reduces liquidity in the market. On the other hand, land tax is much more efficient and quite an...

Agree with Peter - i think it'd have a noticeable increase in house prices. Out of interest, the ACT is going through a 20 year process of abolishing stamp duty. The intent of doing it slowly (beyond obvious fiscal reasons), is to ensure stability in house prices. Info here...