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Stamp duty crash wipes $2.6b from NSW Budget

Tuesday 22 October 2019

The NSW Office of State Revenue has released stamp duty data to September, which reveals a massive $1.59 billion (25%) decline over the past year and a $2.58 billion (35%) decline since stamp duty receipts peaked in September 2017:

The slump in stamp duty receipts follows a sharp 22% decline in property transfers in the year to September and a 31% fall since peak:

The annual decline in revenue has dwarfed the GFC experience, albeit is showing signs of life:

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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.