The previous NSW Gov implemented a choice model of one big Stamp Duty payment or ongoing yearly payments. All it did was increase the price of houses by the amount of the Stamp Duty, and also increase rent as landlords could offload the yearly cost to the tenants.
The choice was removed again by the current Gov.
Should be no tax for singular home owner occupiers. If you only own one home, that you live in, you shouldnβt be paying stamp duty or land tax. Ideally this would make it easier for older Australians to sell their home that they may no longer be able to maintain, and buy another smaller home without the added cost. You should only be taxed if youβre an investor
Land tax is a wealth tax that the landed wealthy canβt avoid. Stamp duty is a transaction tax that creates friction in the market. Seems like an obvious winner to me.
Haven't most of the states privatised (or commercialised) their Land Registries/Stamp Duty processes? How could this work if they have 50-year contracts with private businesses who are taking the proceeds of Stamp Duty transactions?