ONLINE STAMP DUTY CAMPAIGN
Better Business December 03/January 04
ONLINE STAMP DUTY CAMPAIGN
Recently the NSW Coalition continued its campaign to cut stamp duty in NSW with
the launch of www.cutstampduty.com and the formal introduction of the Stamp Duty
Reduction Bill into State Parliament.
NSW Liberal Leader John Brogden said www.cutstampduty.com provides a practical
tool whereby homeowners and people excluded from the housing market can protest
about the Carr Government's greedy stamp duty take.
Homebuyers in regional areas are being hard hit. The largest increases in stamp
duty over the last year have occurred in regional areas. In accordance with data
provided by the respected property research agency, Residex, Casino has seen a
103% or $1, 593 increase in duty and Lismore has experienced a 56%, or $1,855
increase in duty, since September 2002 until September this year.
This greedy tax take is keeping countless young couples, families and singles
out of the housing market.
Tools available for visitors to www.cutstampduty.com include:
An online petition supporting John Brogden's plan to cut stamp duty;
Stamp Duty calculator - detailing costs of stamp duty and the value of the
stamp duty cuts proposed under the Stamp Duty Reduction Plan;
Details on stamp duty and housing prices for over 450 NSW suburbs and towns
(courtesy of Residex);
State by state comparison on stamp duty, and
"the 100 List" - detailing the suburbs and towns that have been hit the
hardest by increases in stamp duty.
People who use the stamp duty calculator on www.cutstampduty.com will see that
under Bob Carr stamp duty has become a giant rip off.
Last year the Carr Government collected a record $3.5 billlion from Stamp Duty
and this included a windfall of an unbudgeted $830 million. Only weeks ago, Bob
Carr said another $1.25 millions "windfall" had been collected by the State
The Coalition's Stamp Duty Reduction Bill which was introduced into Parliament
last month will cut rates by 10% by 2006 and will, importantly, provide relief
for first homebuyers in regional NSW by equalising the "First Home Plus" city
and country thresholds. Under the Stamp Duty Reduction Bill, the stamp duty on a
$465,000 house (current average Sydney price), will be cut by $1,641 by 1 July
Importantly, the NSW Coalition's Stamp Duty Reduction Bill is responsible and
protects the Budget surplus.
Any stamp duty relief will assist home buyers and have a flow-on effect to
businesses within the community.
As 2003 draws to a close, I would like to take this opportunity to wish you a
safe, happy and holy Christmas. I trust that 2004 will bring happiness and good
Thomas George, Karen, Bronwyn & Julie