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Property lobby calls for death of stamp duty

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Australian Broker | 29 Jul 2014, 07:01 AM Agree 0
The Property Council of Australia has called for stamp duty to be abolished to encourage labour movement
  • John | 29 Jul 2014, 10:04 AM Agree 0
    Good luck?? What should happen is the following. If a property was purchased for lets say $400,000, then sold for $600,000 at a later date, then the purchased should only have to pay the difference between $400,000 and $600,000.
    The State Governments are double dipping
  • SIDBROKER | 29 Jul 2014, 10:13 AM Agree 0
    I have been saying this for 30 years. Barry Offarrel said they won`t remove it as they the govt. need it. Bollocks I say. It stifles progress the same as NCCP is doing.
  • Bottom Line | 29 Jul 2014, 10:21 AM Agree 0
    Federal Govt Tax Reform? On a state based tax - unlikely.
  • Incognito | 29 Jul 2014, 10:53 AM Agree 0
    How many tax breaks do this lobby expect they're entitled to?
  • Patrick | 29 Jul 2014, 12:09 PM Agree 0
    Everybody uses the infrastructure provided at State level. We should move to a more evenly levied tax to replace stamp duty. It should be an annual tax like land tax but possibly on total value not just land and at about 1/10th the rate of current stamp duty. For those who have purchased within the last 10 years a phase-in discount until the 10th anniversary of their purchase.
  • GST | 29 Jul 2014, 02:01 PM Agree 0
    Stamp Duty and other regressive taxes were meant to be REMOVED when the GST was implemented. The govt lied to get GST in. There is already regressive Land Tax on investment property which doubles and climbs to approx 5% per year if you hold the land in the name of a discretionary trust. If residential Tax introduced, that would be a disaster for all.
  • SIDBROKER | 29 Jul 2014, 08:21 PM Agree 0
    Then off course GST is the only legal tax is it not. Therefore the Fed. Govt. is responsible for stopping all illegal taxes such as Stamp Duty. Correct.
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