Forty-eight percent (48%) of CA ANZ members have not decided whether to support or oppose the NSW proposal to transition from stamp duty to property tax. Member feedback indicates that much work remains to be done to provide greater detail about the impact of this proposal on both the NSW economy and individuals. Our members have also indicated that further questions about the operation of the proposal need to be addressed. A key question that remains is, who can provide advice regarding State taxes?
CA ANZ calls for the financial and distributional modelling of this proposal (including underlying assumptions) to be released so that citizens can have a better understanding of how this proposal affects future revenue, productivity and property prices.
CA ANZ also calls for real life examples that encompass a variety of situations (that are based on historical information) to be developed so that people can develop a better understanding of the proposed property tax works.