ABC
Federal Housing Minister Clare O’Neil has swung her weight behind a Business Council of Australia push for states to scrap stamp duty and ease the housing crisis by removing barriers to property transactions.
“It’s a really good idea,” Ms O’Neil told ABC Radio National on Tuesday.
“Stamp duty is a bad tax. It prevents people from moving around the housing market in the way that suits them best and it creates cost for everyone who is selling or buying a home.”
Economists and business groups have long called for states and territories to phase out stamp duty and replace the revenue with an annual land tax.