Earlier this week, the NSW Government announced that it will introduce legislation into parliament giving first-home buyers the option to pay an annual land tax (i.e. $400 plus 0.3% of the unimproved land value) rather than stamp duty.
NSW shadow treasurer Daniel Mookhey has published an article in The SMH claiming the NSW Government’s switch from stamp duty to land taxes “will leave home buyers out of pocket”:
Labor has decided to vote against the premier’s proposal. We refuse to aid and abet Perrottet in his quest to introduce a land tax on people’s homes, without a mandate from the people themselves…
