RESIDENTIAL PROPERTY
THE Victorian government is considering giving home buyers the option of paying an annual land tax instead of...
The Age has reported the Department of Treasury and Finance is weighing up the change to tackle housing affordability and...
Stamp duty brought in $10.4 billion to the state’s coffers in FY22, accounting for a record 33.9% of total taxes, and...
According to The Age article, government sources said reliance on stamp duty as a single revenue had left the state’s financial...
“We constantly review our revenue system to ensure it is appropriate to fund the services and infrastructure that Victorians rely on,”...
Victorian Liberal leader John Pesutto said yesterday that the opposition was open to supporting changes to stamp duty...
“We know that stamp duty is one of the biggest impediments to new homebuyers in particular,” he said, as reported in the Australian Financial Review...
“I’ll listen to all the advice, but I would prefer an opt-in model at this stage. I want to give people choice. It can’t be bait and switch.”...
“It can’t be, ‘Hey let’s try this,’ and then you shift the goalposts. It’s got to be fixed.”...
Late last year, the previous NSW Coalition government gave first home buyers the option to choose between paying stamp duty or...
First home buyers who have opted to pay the property tax will continue to be able to do so...
Victoria’s state government is also considering reducing the powers of local councils in statutory planning decisions.