politics of stamp duty catch up with NSW premier

NSW Premier Dominic Perrottet is running out of time to make reality a major reform he’s been talking about for years. Perrottet was the state’s treasurer when he first announced his intention to replace stamp duty — a fee demanded of home buyers at the point of transaction — with a property tax.

It’s a major and complex undertaking, not least because it involves tinkering with a major income source for the government. 

Across Australia, local and state governments derived more than a fifth of their tax revenue in the 2020-21 financial year from stamp duty.