End called for stamp duty: senior citizens
finance-advice

End called for stamp duty: senior citizens

By webmaster

A new report has called for the end of stamp duty for senior citizens in order to allow older Australians to relocate to more appropriate housing.

In order to prepare for an ageing population and to provide affordabA new report has called for the end of stamp duty for older Australiansle homes, stamp duty should be ended in all states for seniors, said the new Realising the economic potential of senior Australians: Turning grey into gold report from the Department of Treasury.

The proportion of the population exceeding 65 years old is 6 per cent higher today than it was in 1970, and it is expected to jump 8 per cent, to 23 per cent, by 2050, according to the Australian Bureau of Statistics (ABS).

“Government regulations are inhibiting senior Australians from obtaining housing that suits their needs. State and territory government stamp duties discourage relocation to more appropriate housing,” the report said.

The report called for more efficient taxes, such as a recommended annual land tax.

Treasurer Wayne Swan said the government would assess the report.

promoted stories
Email:

Top Suburbs

Highest annual price growth - click a suburb below to view full profile data:
1.
SOLDIERS POINT 48.92%
2.
BLUE BAY 43.96%
3.
BERKELEY VALE 42.74%
4.
LEMON TREE PASSAGE 42.55%
5.
NORTH NARRABEEN 40.19%
End called for stamp duty: senior citizens
SPI logo