With support for land taxes rising, the property lobby has responded by demanding that a broadened GST instead replace the abolition of stamp duties:
Property Council of Australia chief executive Ken Morrison said he welcomed possible government plans to scrap stamp duty, which he called “Australia’s least efficient and most unpopular tax”, but a shift to an annual tax could be complicated and costly for families.
“In modelling for the Property Council, Deloitte Access Economics estimated that the average ‘land value property’ would need to pay $2400 a year,” he said.
