There is nothing transformational about a reform that applies only to a few thousand people and is not part of a broader plan to transition away from stamp duty.
First home buyers in NSW will be given the choice to eliminate stamp duty on properties up to $1.5 million.
The government’s housing affordability reforms have ramped up a political battle about property prices before the state election in March.
Everyone now seems to agree that stamp duty should go. But until we agree what tax should replace it,stamp duty won’t be going anywhere.
Stamp duty would be scrapped on homes worth up to $800,000 and reduced on homes up to $1 million if Labor wins the NSW election in March,so where would the tax cut apply?
Chris Minns says a NSW Labor government would improve the delivery of social housing,while the major parties fight to attract first home buyers.
NSW Labor would abolish stamp duty for first home owners on purchases up to $800,000 as housing affordability dominates the election campaign.
First home buyers have been delivered a boost to their spending power as they can now avoid stamp duty and put the cash towards their new property.
Rifts between NSW Liberals and Nationals,while nothing new,have emerged at a terrible time for the premier but it is his rift with his deputy,Matt Kean,that will follow Dominic Perrottet beyond the state election,regardless of the result.
The Perrottet government overcame a push by the Greens and Labor to delay the property tax scheme until after the March election.
The final sitting weeks of parliament loom as crunch time for NSW Premier Dominic Perrottet’s signature housing policy.