At the end of August, the NSW Parliamentary Research Service released its Trends in NSW State finances: 2002-03 to 2016-17 report, which showed that rising stamp duty receipts have driven much of the increase in state government taxation revenue over the past 14 years, accounting for 36% of total taxation revenue as at 2016-17:
June’s State Budget also projected that stamp duty receipts would grow by 2.4% per annum over the forward estimates; albeit around 80% ($835 million) of this projected growth relates to the 4% surcharge on foreign property purchases:
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