Near universal support for switch to land taxes

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With stamp duty revenues collapsing and a renewed focus on productivity, political support is building to swap stamp duties for land taxes:

Australian Greens leader Adam Bandt said the COVID-19 crisis had revealed the flaws behind stamp duty.

“As people stop buying and selling houses, tax revenue dries up, precisely at the time we need public money the most,” he said…

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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.