Powered by MOMENTUM MEDIA

End called for stamp duty: senior citizens

By webmaster 13 December 2011 | 1 minute read

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 affordab

A 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.

End called for stamp duty: senior citizens
default
spi logo

Get the latest news & updates

Join a community of over 100,000 property investors.

Check this box to receive podcast updates

From the web

Recommended by Spike Native Network

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.