Stamp duty should be phased out and replaced with a residential land tax over the next 30 years,Infrastructure Victoria says in a new report.
Melbourne’s supply of new apartments has collapsed beneath the weight of labor shortages,material costs and state government taxes and levies.
With many potential downsizers living in sought after family-sized homes simply too big for their needs is it time to ditch the tax on buying property in Perth?
A search of online listings showed seven standalone homes in the greater Perth region were for less than the proposed threshold. Seven.
Economists say the tax raises the barrier to entry for first home buyers who are trying to get into the market and discourages empty nesters from downsizing.
Independent MP Allegra Spender says 20 years of policy inaction have left Australia with poor housing and tax systems,but sees a way to fixing them.
Both the IMF and Deloitte Access Economics are warning the new economic year is unlikely to be much better than the current one.
Premier Jacinta Allan wants to upend the housing market by fast-tracking high-rise apartment buildings across the suburbs and slashing stamp duty for off-the-plan apartments,units and townhouses – but will it work?
Developers have welcomed the Allan government’s stamp duty concession but say Melbourne apartment values must rise or projects will remain financially unviable.
Buyers of off-the-plan developments will save tens of thousands of dollars in stamp duty concessions in a 12-month plan to encourage denser developments across the suburbs.