State governments will need lots of convincing, but calls to scrap stamp duty and replace it with a uniform land tax system continue to gather support.
The Henry Review proposed this approach in their final report which was released in May 2010. The calls for it to be adopted won't, and shouldn't, go away
PROPERTY pundits have renewed calls for stamp duty to be scrapped, slamming the tax for aggravating a string of already serious risks to the housing market and economy. Speaking at a meeting of the Housing Industry Association, RMIT University professor Gavin Wood said stamp duty has prevented young people from owning a home by hiking their upfront expenses.The tax has further damaged the labour market by encouraging existing homeowners to stay where they are rather than move to other areas with better jobs so that they can avoid paying the tax.“Stamp duty discourages mobility and that’s a major problem for the economy,” Mr Wood said.