NSW Budget guzzles stamp duty

Tuesday, 23 June 2015

The NSW Government has today released its State Budget, which recorded a record $2.1 billion Budget surplus on the back of the booming Sydney housing market (see next chart).

As shown below, the Government reaped a massive $1.2 billion windfall in 2014-15 as stamp duties on property transfers came in much stronger than expected:

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About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.