NSW policy giving first home buyers the choice to pay annual rate prompts calls for change in other states
But the state’s Labor opposition has vowed to scrap the scheme if elected in March, replacing it with a policy toSome experts say the NSW government’s program is a step in the right direction and have urged other Australian jurisdictions to consider a similar approach, dubbing stamp duty a “terrible” and “inefficient” tax.
A Victorian government spokesperson said it currently offers “a range of initiatives” to help people “get into their own home sooner”. Prof John Quiggin, an economist at the University of Queensland, said stamp duty is a “terrible tax that is already riddled with exemptions and concessions”.
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