Post to Facebook on 27/10/19 at 10:30 AM
Posted to The Age (23/10/2019) on 27/10/2019
Commenting on “Property upgraders to feel the pain of bigger stamp duty payments”
https://www.theage.com.au/money/investing/property-upgraders-to-feel-the-pain-of-bigger-stamp-duty-payments-20191023-p533hg.html
Stamp duty is a two-edge sword. I believe stamp duty helps to deter the property prices to soar further. If stamp duty is exempted, the money supposed to go to the government will end up in the developers’ or the vendors’ pockets.
Unfortunately the myth and hype that prices cannot come down are created by organisations with special interests to get advertising revenue. With a slight upswing in median price, they turn the molehill into a mountain.
Just look closer to other reports that the median prices in almost all other capital cities except Sydney and Melbourne, are lower in the June-September quarter.
Thank your lucky star that stamp duty is an one-off charge. If the speculation is true that the government is going to raise revenue by replacing stamp duty by charging land tax on the primary residence, the pain will be much greater annually for all property owners, whether they are still paying the mortgage, and those who are already in financial trouble.
Thank you for reading.
Posted to The Age (23/10/2019) on 27/10/2019
Commenting on “Property upgraders to feel the pain of bigger stamp duty payments”
https://www.theage.com.au/money/investing/property-upgraders-to-feel-the-pain-of-bigger-stamp-duty-payments-20191023-p533hg.html
Stamp duty is a two-edge sword. I believe stamp duty helps to deter the property prices to soar further. If stamp duty is exempted, the money supposed to go to the government will end up in the developers’ or the vendors’ pockets.
Unfortunately the myth and hype that prices cannot come down are created by organisations with special interests to get advertising revenue. With a slight upswing in median price, they turn the molehill into a mountain.
Just look closer to other reports that the median prices in almost all other capital cities except Sydney and Melbourne, are lower in the June-September quarter.
Thank your lucky star that stamp duty is an one-off charge. If the speculation is true that the government is going to raise revenue by replacing stamp duty by charging land tax on the primary residence, the pain will be much greater annually for all property owners, whether they are still paying the mortgage, and those who are already in financial trouble.
Thank you for reading.
