Comment on Could a tax against empty homes help end Australia's housing crisis?
w2qw@aussie.zone 1 year agoThe people at prosper have put some thought into this. www.prosper.org.au/…/stamp-duty-to-land-tax/ there scheme allows the elderly to defer the tax until sale which prevents them from being forced to sale but still incentivises it.
Nath@aussie.zone 1 year ago
I didn’t realise that the idea was to replace Stamp Duty with land tax. The biggest hurdle I see with that idea is that Queensland, New South Wales, South Australia and Western Australia^*^ have all privatised their land registries. Stamp Duty now goes to private companies and not the state governments. They can’t simply replace stamp duty with a land tax.
^*^WA han’t totally privatised their Land registrar, but the process of collecting Stamp Duty is private and the proceeds of a land transfer don’t go to the government.
abhibeckert@lemmy.world 1 year ago
WTF? When you sell a house, the $40,000 Stamp Duty fee does not go to the company running the land registry. It absolutely goes to the government.
Maybe the company gets fifty bucks or something. They’re not getting $40k.
w2qw@aussie.zone 1 year ago
As bad as privatising land registries as it’s not like the 6% stamp duty you pay is going to the land registry. There’s probably a nominal fee that these land registries are getting on each lookup and transfer.