REGISTER YOUR INTEREST
Transitioning from stamp duty to land tax in NSW
Transitioning from stamp duty to land tax in NSW
The NSW Budget from 17 November 2020 has outlined the State Government’s proposal to replace stamp duty with a broad based property tax. If implemented, it will comprise the biggest shift in state taxes since World War 2.
As it is still merely a proposal, it does not appear that the following year forecasts in the budget have taken such a move into account. That said, the Draft Report contained a number of approaches to manage the transition, and NSW Government material released yesterday indicates the Government’s current thinking on a preferred transition model.
Transitioning from duties to land tax (or a different “property tax”) will create winners and losers. We expect this will be difficult to message and manage. As a way of generating public buy-in to the proposal, a public consultation is now open until 15 March 2021.
Register your interest now to attend our workshops for effected industries in February 2021 ahead of the deadline for public consultation.
