For example, the council says the Commonwealth would receive $19 billion more in tax revenue over a decade if the states and territories replaced stamp duty with a land tax. An annual land tax would add to economic growth, it says, and the federal government could share those gains with the states and territories to help cover the cost of the change.
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“Stamp duty is a horrible tax that stops Australians getting into a home,” said Black, ahead of the release of the council’s report, It’s Time to Say Yes to Housing.
The council wants more investment in apprentices, a bigger intake of skilled foreign workers with construction skills, and a judicial inquiry into corruption in the building industry – a key problem revealed in the Building Bad reports in this masthead.
It is also calling for tougher oversight of local councils so new homes are given priority, taking decisions…
