As we know, the NSW Government has announced plans to replace stamp duty with an annual land tax by. On Friday it released a report detailing the reforms.
Under the reforms, buyers would be given an alternative to paying stamp duty via:
- Owner-occupiers: a fixed $400 up-front fee plus an annual 0.3% tax on the property’s unimproved land value.
- Investors: $1500 plus 1.1% of the unimproved land value.
