NSW Treasurer walks back from stamp duty reform

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NSW Premier Dominic Perrottet had argued strongly for stamp duty to be replaced by a broad-based land tax in his previous role as the state’s treasurer. Perrottet reaffirmed his commitment to tax reform in his first press conference after replacing former premier Gladys Berejiklian.

However, Treasurer Matt Kean has distanced himself from the proposal, instead indicated that there are a range of options to increase housing affordability:

“There are other ways to improving housing affordability and this may be one lever which we could consider,” Mr Kean said, adding axing stamp duty was “Premier Perrottet’s preferred method”…

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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.