Stamp duty has been thrust centre stage of COVID-19 economic reforms, as one of the most unpopular taxes in Australia faces a major overhaul. Stamp duty, paid whenever a property is purchased in Australia, is one of the biggest revenue sources for the state governments. More than $7 billion in stamp duty was added into NSW's state coffers in the 2019-2020 financial year, while Victoria collected $6 billion in land transfer duty in 2018-19, the latest data from the states' revenue departments showed. |
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