Stamp duty reform has been in the 'too hard' basket for too long


The Victorian Greens have renewed their pressure on the Victorian Labor Government to abolish stamp duty and replace it with a broad-based land tax.

The Greens say this would help make housing more affordable and remove an unnecessary barrier to home ownership in the midst of Victoria’s housing crisis.

Earlier today, the parliamentary inquiry into stamp duty tabled its final report, recommending the Government further investigate stamp duty reform.

But the Greens say the Government cannot afford to continue kicking this can down the road.

The housing market is currently broken, with an entire generation being locked out of owning their own home while rents are unaffordable and rising fast. 

There are nearly 130,000 Victorians waiting for public housing, and thousands more living in insecure and unaffordable homes.

Earlier this week, the Greens launched a Housing Statement which included an 11-point list of real solutions to the housing crisis, including stamp duty reform.

And back in 2009, the Henry Tax Review recommended that state governments abolish stamp duties in favour of “more efficient taxes”.

Quotes attributable to Victorian Greens Member for the Southern Metropolitan Region, Katherine Copsey MLC: 

“Stamp duty reform has been in the too hard basket for too long. 

“Victoria is in a housing crisis. Stamp duty is inequitable, and the benefits of reforming it include increasing housing turnover and removing an unnecessary barrier to home ownership.

“The Victorian Labor Government should urgently progress the abolition of stamp duty and its replacement with a broad-based land tax.

“To fix the housing crisis, a responsible Government would use every policy lever available to address housing unaffordability and encourage the equitable allocation of housing so that everyone in our state has a stable and secure place to call home.”