Finance advice

Gov't considers gradual stamp duty payment

By webmaster

Paying stamp duty off over a number of years in order to kick start the property market is one idea under consideration by the NSW government, according to a weekend report.

An article in The Telegraph said first homebuyers may become eligible to pay off their stamp duty over a number of years as a means of giving the property market a boost.

State treasurer Mike Baird told The Telegraph the concept was "an interesting idea", one “is under active consideration”.

According to the report, the policy was one of a number proposed by the Real Estate Institute of NSW (REINSW).

Payment of the stamp duty would be guaranteed, as it would be held against the property in the same way as unpaid land tax, the report added.

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Gov't considers gradual stamp duty payment
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