Falling stamp duty receipts to shatter NSW Budget forecasts

Tuesday 19 December 2017

A week after NSW Treasurer, Dominic Perrottet, spruiked the Government’s economic and budget success and promised that state budget surpluses would average $2.1 billion until 2021, the NSW Office of State Revenue has updated its stamp duty data for November 2017, which shows that stamp duty receipts have peaked after a monumental five-year boom that has lined the State Government’s pockets with gold:

As shown above, annual NSW stamp duty receipts ($7.50 billion) have retraced from October’s all-time high of $7.57 billion, although receipts have still surged by an incredible 154% over five years!

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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.