Stamp Duty abolishment?

[WebBoard]

From: Gavin J


I read an article a week or so ago in the Age, saying that they were proposing to the government that Stamp Duty be removed. I can't remember who "they" were, as I forgot to grab the article. Apparently the likelihood of the Govt. accepting the proposal was very good!

Has anyone else heard anything about this?

Maybe the Govt. has already tried to fund the property industry with the new homebuyers grant, and now won't be interested in spending any more on SD removal...

Gavin J

 

[duncan_m]

Reply: 1
From: Duncan M


The Govt.. give up stamp duty?? That'd be like taking a bottle of whisky from a drunk man..

Duncan.

 

[paulzag]

Reply: 2
From: Paul Zagoridis


My memory vaguely offered this.

When GST legislation was first proposed it included the removal of BAD and FID in NSW (which replaced stamp duty) as well as the abolition of Stamp Duty on RE transfers.

That argument was: no SD but you pay GST. Anyway in order to do the deal, the democrats nixed most of the SD removal because it would only benefit "the rich".

So we have the Democrats to thank for Input Taxed supplies and all the resulting paperwork.

 

[Kristine..]

Reply: 2.1
From: Kristine .


Gavin

I think if you contact the REIV they will be able to give you details of the campaign which they are running / intending to run to lobby Vic Govt to lower Vic SD to bring it in line with other states.

Kristine

 

[WebBoard]

Reply: 2.1.1
From: Terry Avery


Also the Property Owners Association is campaigning in Victoria for it to be
removed.

 

[WebBoard]

Reply: 2.2
From: Marshall Brentnall


Paul is correct with regard to the input of the democrats - they even negotiated the Marginal Tax Rate maximum from $75000 to $60000 for the tom rate......why?

Because such a move would only benefit the rich.......how ridiculous!