By limiting the Stamp Duty rebates to new homes the NSW State Government has missed a fantastic opportunity for NSW to really sell ourselves as "Open for Business".
The NSW property market needs to welcome back investors we lost to the other States and Territories because of this governments prior decision in 2004 to introduce Vendor Duty Tax when selling your property.
So why have a large part of one transaction when you could make more money with a smaller part of thousands of transactions??
Stamp Duty represents the largest barrier to conducting a property transaction, for most people paying Stamp Duty doesn't represent a good investment for them.
The Stamp Duty Rebates announced by the NSW state government is on the right track reducing stamp duty, but needs to be on all properties.
The NSW property market needs to welcome back investors we lost to the other States and Territories because of this governments prior decision in 2004 to introduce Vendor Duty Tax when selling your property.
So why have a large part of one transaction when you could make more money with a smaller part of thousands of transactions??
Stamp Duty represents the largest barrier to conducting a property transaction, for most people paying Stamp Duty doesn't represent a good investment for them.
The Stamp Duty Rebates announced by the NSW state government is on the right track reducing stamp duty, but needs to be on all properties.
Comments
Post a Comment