The Real Estate Institute of Australia (REIA) has renewed its calls for the removal of property taxes in order to support housing affordability.
Adrian Kelly, president of REIA, said households in all states and territories except ACT now pay more stamp duty than there are 20 years ago. years.
“Politicians cannot, on the one hand, complain about the affordability of housing; and on the other hand, to say that we need this income from buyers and owners to fund public sector operations, ”he said.
Kelly said the federal government should take this issue seriously rather than transferring responsibilities only to states and territories.
“Calls from the NSW government to set up a productivity fund to push for stamp duty reform is a sensible approach to making the Federal Financial Relations Council competitive and initiating this important reform for good, ”he said.
However, Kelly stated that the proposed introduction of a property tax would not necessarily be a solution state governments should consider.
"The ACT experience shows that the property tax scared off market investors and drastically reduced the amount of private rentals available," he said.
The best alternative, according to Kelly, is a broad base tax or a revision of the GST. It would be a better replacement and a fair alternative, he said.
"Alternatively, an optional approach to stamp duty payment, where the user chooses what to pay and when is another pragmatic approach," he said.
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