Do we need a tax on land for a sustainable future? This article promotes the broad-based land tax proposed in the Henry Review (while being a little is harsh on the Property Council imo)
The Property Council's tax submission states: "The Federal Treasury identifies conveyancing stamp duty as the tax with the highest cost to living standards and economic growth'. Stamp duty distorts business decisions, locks families out of housing choices, worsens housing affordability, suppresses economic activity and leaves governments with highly volatile revenue streams." Where the Property Council loses some credibility, though, is in its preferred alternative of recouping the stamp duty billions by increasing GST.