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'STAMP DUTY A CURSE" - CAN SOMEONE TELL THE NSW GOVERNMENT?
The comments were contained in the Treasury discussion paper released at the beginning of the Federal Government's review of the Australian tax system.
"Hopefully the Treasury is sending a copy of its advice to the NSW Government," said REINSW President Steve Martin.
"When some of our lead economists start saying stamp duty is dampening the housing sector and land tax is discouraging investment, you really need to wonder how the NSW Government can continue to get it so wrong.
"REINSW has been telling the State Government for years that property transfer and land tax are crippling investment in property.
"A key consequence of this is the rental crisis gripping NSW and which is obvious to everyone except the NSW Government.
"Hopefully now that the Treasury is telling the Rudd Government that stamp duty is a curse, this message might finally get through to the Iemma Government," said Mr Martin.
Please direct REINSW media enquiries to Julian Brophy on 0408 276 749.
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