Stamp duty crash wipes $2.5b from NSW Budget

Tuesday 24 September 2019

The NSW Office of State Revenue has released stamp duty data to August, which reveals a massive $1.67 billion (25%) decline over the past year and a $2.54 billion (34%) decline since stamp duty receipts peaked in September 2017:

The slump in stamp duty receipts follows a sharp 23% decline in property transfers in the year to August and a 30% fall since peak:

The annual decline in revenue has dwarfed the GFC experience:

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

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.