The following statement is made by REIA President Hayden Groves in relation to commentary appearing in the Sydney Morning Herald, Stamp duty reform on table as Chalmers backs states’ property talks:
“Stamp duty reform is a fundamental driver of economic growth and productivity at a time when Australia needs it the most.
“Done well, it will contribute to addressing the housing supply problem, allow Australians to move closer to job opportunities and not feel locked in to their current housing option.
“We urge the meeting of State and Federal Treasurers on 22 July 2022 to examine a universal solution that is fair, equitable and looks at the tax system as a whole.
“The earliest recorded stamp duty was in 1865 in New South Wales and its phase out was an undelivered promise with the introduction of the GST.
“It is time to Axe the Tax.”
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