In the race to reach the post-COVID-19 recovery stage as quickly as possible, the necessity is to bring confidence back, writes Mathew Tiller.
However, at a time when everyone is hanging on announcements, commitments and timelines from politicians and regulatory officials, it’s important that the communication is clear, transparent and detailed in order to boost confidence. Recent discussions surrounding changes to stamp duty have not been one such communication.
Over recent weeks, the federal Treasurer, RBA governor and NSW Treasurer have all discussed the need to overhaul the tax system and singled out stamp duty as the tax most in their sight. As evident by the course of supportive voices, for more than a decade, everyone agrees that stamp duty is a highly inefficient tax which needs abolishing. However, while the sentiment in the most recent discussions is positive, the lack of detail has had the opposite effect and led…
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