New South Wales vendor tax would be scrapped and stamp duty reduced in exchange for extending land tax to owner-occupied homes, under a radical plan put to the state's new Treasurer, Andrew Refshauge.
To make property taxes fairer, the NSW Council of Social Services argued land tax should be imposed on owner-occupier homes, the controversial vendor tax abolished and stamp duty reduced. The result would be revenue neutral, it said.
The council is meeting Mr Refshauge again within the next fortnight to discuss its tax reform proposals in more detail. It has also proposed cutting payroll tax and doubling the parking space levy.
Full story at Fairfax Digital.
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