In today's episode, CEDA Chief Economist Jarrod Ball and CEDA Senior Economist Cassandra Winzar talk about property taxes, in particular what some call one of the least efficient taxes – stamp duty.
Despite the COVID-19 pandemic, house prices are growing at their fastest pace in more than 30 years, thanks partly to record-low interest rates. Now, there are growing calls to abolish stamp duty, to help young people get on to the property ladder and encourage more people to downsize.
The ACT has already taken this step, and NSW is looking into it.
