Industry insider says stamp duty has had its day and should be dumped

  • While the country debates the pros and cons of negative gearing, one industry insider says there is another property tax that is of “some concern”.

Cameron Kusher, senior analyst of property data firm CoreLogic, said in his latest Property Pulse newsletter out today that stamp duty needs to be scrapped in favour of a universal land tax.

In the 2014-15 financial year, while state and local government taxation revenue was recorded at $89.278 billion, more than half of that was made up of property taxes.

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Insider

Property taxes are the most important sources of revenue for governments however, the reliance on volatile stamp duty revenue provides its challenges according to Cameron Kusher. Picture: Nigel Hallett

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