CoreLogic’s Cameron Kusher has produced an interesting analysis of property taxation across Australia, which reveals that state and territory governments collected a record high 51.9% of taxation revenue from property in the 2015-16 financial year, driven primarily by surging stamp duty receipts in New South Wales and Victoria:
The value of property taxes collected was 9.6% higher over the year and accounted for a historic high 51.9% of total state and local government revenue…
Stamp duty on conveyances accounted for the largest overall proportion of property tax revenue. Over the 2015-16 financial year, state and local governments raised $20.607 billion in revenue from stamp duty, accounting for 41.6% of total property tax revenue…
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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.
