If it goes ahead it would be the largest shift in State tax policy since WW2. But is it a good idea and should all the States follow? Stamp duty is one of the most disliked taxes – it’s lumpy and comes at a time when property buyers are already under pressure to make their dollar go further. But perhaps it’s important to think of each State’s target demographic. Baby Boomers may prefer a known one-off stamp duty bill. Millennials could opt-in for a buy-now, pay-later annual land tax.
In this podcast, we speak to Steve Paterson, State Taxes Partner and Vince Tropiano, National Tax Governance Lead, about the why this proposed change is special, the long tail of the change that will impact future generations, as well as how a land tax could be absorbed into commercial rent increases.