State Budgets face billion dollar hits from falling stamp duties
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The AFR reports that the VIC and NSW Governments are facing multi-billion dollar slowdowns in stamp duty receipts as lower sales and falling prices hits revenue:
Both states’ Treasuries are warning their governments they might have to tighten their belts after nearly seven years of tax windfalls filled their coffers, the analysis shows.
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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.