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127

Could a tax against empty homes help end Australia's housing crisis? (www.abc.net.au)

submitted 1 year ago by [email protected] to c/[email protected]

71 comments fedilink hide all child comments

My first instinct is "yes" but then I thought about it and I think it's just going to exacerbate the short-stay problem unless combined with other measures.

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[–] [email protected] 1 points 1 year ago (2 children)

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.

[–] [email protected] 1 points 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.

[–] [email protected] 1 points 1 year ago* (last edited 1 year ago)

Stamp Duty now goes to private companies and not the state governments

WTF? When you buy a home, the $40,000 Stamp Duty 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.