Nicola Powell
As this week’s Economic Roundtable commences, Domain’s Chief of Research and Economics Dr Nicola Powell warns that stamp duty is one of the biggest barriers to a fair and efficient housing market — making it harder for Australians to buy, sell, or move.
In some eastern states, stamp duty costs have grown more than three times faster than disposable incomes since 2000. The result is a tax that distorts housing choices, discourages mobility, and locks people out of home ownership.
Replacing stamp duty with a broad-based land tax, as the ACT has begun to do, would improve housing efficiency, support a more flexible labour market, and deliver more stable, predictable revenue for governments. But real reform will require federal leadership and transitional support.
The Economic Roundtable is a key opportunity to address one of Australia’s most harmful and outdated taxes.