Stamp duty take expected to hit $18.9 Billion

Sydney’s buoyant market is inspiring forecasts of a record $18.9 billion in stamp duties in the coming year. After an increase in stamp duties was confirmed in this week’s NSW Budget, an analysis by The Australian finds the states and territories expect to reap $18.9 billion in FY2016 from transfer duties on homes and commercial properties. The analysis finds that, nationwide, land-transfer duties are forecast to exceed the $16.5 billion predicted for FY2015. NSW Treasury predicts stamp duty will continue to rise for the next four years, adding $32 billion in revenue over the forward estimates

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