Stamp duty bust wipes $2.4b from NSW Budget

Monday, 26 August 2019

The NSW Office of State Revenue has released stamp duty data to July, which reveals a massive $1.69 billion (25%) decline over the past year and a $2.45 billion (33%) decline since stamp duty receipts peaked in October 2017:

The slump in stamp duty receipts follows a sharp 24% decline in property transfers in the year to July and a 29% fall since peak:

The annual decline in revenue has dwarfed the GFC experience:

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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.