Release: Stamp Duty fails to get stamp of approval from ATA

Release: Stamp Duty fails to get stamp of approval from ATA

The Australian Taxpayers’ Alliance, the nation’s largest grassroots advocacy group representing taxpayers, today commended the NSW Treasurer Dominic Perrottet for pushing for the abolition of stamp duty and calls on Treasurer Josh Frydenberg to show his support.

“While the NSW State Government benefits from the revenue they rake in on the stamp duty,” said ATA Research Associate, Julia Kokic, “a land tax is fairer and more reliable.”

“Australians have become disillusioned with the housing market thanks to a lack of affordability and the high cost of making transactions. With the exception of the Hong Kong, Sydneysiders cop the least affordable homes in the world.

“By stopping empty nesters and retirees from selling, the stamp duty has restricted the available supply of homes for young families. The high cost of housing has undermined an entire generation stopping them from building equity and getting ahead.

“Australian taxpayers sent a wave of submissions to the Thodey Review calling for an end to stamp duty. The people have spoken. The stamp duty is an undue burden on the lives of hardworking Australians.”