REIV calls for stamp duty cuts

22 SEP 2010 • 1 min read • Finance

Making headlines today, the Herald Sun reported that the REIV is calling for reforms to Victoria’s stamp duty payments.

According to the paper, home buyers filled the state government’s purse with more than $46 million over the weekend.

This monetary bonanza shows the tax must be reformed as rising property prices provide the government with a huge cash injection week in, week out.

You’re out of free articles for this month

Username or Email

Password Forgot password?

Keep me signed in on this device.

First Name

Last Name

Mobile

Organisation Type

By becoming a member, I agree to receive information and promotional messages from Smart Property Investment. I can opt out of these communications at any time. For more information, please visit our Privacy Statement.

Need help signing up? Visit the Help Centre.

REIV spokesman Robert La Rocca said around $640 million of properties changed hands in a busy weekend – and a large portion of that was going straight to the state government.

Victoria has the highest stamp duty rates in the country with home buyers spending $3.6 billion on it last year.

Mr La Rocca said the current strength of the property market underlined the need for cuts to stamp duty.

Want to see more stories from trusted news sources?
Make Smart Property Investment a preferred news source on Google.
Click here to add Smart Property Investment as a preferred news source.

Tags:

Latest