NSW Treasurer Dominic Perrottet has warned of an additional reduction in stamp duty revenue of between $200 million and $300 million over four years. This follows a mid-year economic review downgrade of $2.5 billion over four years, a $747 million downgrade in March, and a $5.5 billion downgrade in the 2018 Budget. However, Perrottet believes that state revenue will be boosted by the Coalition’s federal election win, citing the rejection of Labor policies such as negative gearing reforms. From The Australian:
Next week’s NSW budget will see a further writedown of up to $300 million in stamp duty receipts, on top of more than $8 billion already written down in the past year…
