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Stamp duty vs land tax under the spotlight in NSW

The NSW Government has proposed a new property tax – essentially abolishing stamp duty over a long transition period and replacing it with an annual tax for all NSW property holders.

If implemented, there will be winners and losers, and the change will comprise the biggest shift in state taxes since World War 2.

In the webinar Steven Paterson, Head of State Taxes at Grant Thornton unpacks the key features of the proposed annual tax, providing his own insights on how the transition may play out including the proposed 'opt-in' for taxpayers. There’s a lot we don’t know or at least not explicitly outlined in the proposition such as the implications on landholder duty, charities and other exemptions.