Brett Wortman

Stamp duty 'out of control': property council

NEW figures reveal average stamp duty costs have surged 800% over the past two decades.

Property Council of Australia chief executive Ken Morrison said stamp duty was out of control and was one of the biggest impediments to entering the housing market.

He said stamp duty was an inefficient tax and must be abolished.

"Stamp duty has become a run away cash grab that is hurting Australia's economy and locking out potential homebuyers," he said.

"These astounding increases in the costs of stamp duty are nothing short of scandalous.

"The community should be outraged that they are being slugged with such excessive charges, especially at a time when housing affordability is an acute challenge." 

 

The true cost of stamp duty over the life of an average mortgage:

Sydney, $61,542

Brisbane, $14,733

Melbourne, $56,616

Hobart, $21,564

Perth, $33,654

Canberra, $35,427

Adelaide, $30,393

Darwin, $49,701



Rocky cricketer's role in Heat's thrilling semi-final win

premium_icon Rocky cricketer's role in Heat's thrilling semi-final win

Jess Jonassen goes from agony to ecstasy after teammate's heroics

CQ business 'honoured' to be nominated for state awards

premium_icon CQ business 'honoured' to be nominated for state awards

Coastal business nominated for customer service award

NAME AND SHAME: This week's drug and drunk drivers

premium_icon NAME AND SHAME: This week's drug and drunk drivers

Here are 15 of this week's drink and drug driving sentences