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	Podcast:		Please Explain
	Episode:		Stamp duty or land tax: which should first home buyers choose?
	Category:		News & Politics
	Duration:		00:14:35
	Publish Date:		2022-06-22 04:00:20
	Description:		It’s one of the most despised taxes for new home buyers: stamp duty. You’ve scrimped and saved to build your deposit for the bank, then the state government slugs you tens of thousands of dollars extra. The NSW government has announced a plan to give first home buyers the ability to sidestep the hated tax - but there’s a catch. In return for not paying stamp duty upfront, buyers must instead opt into paying an ongoing annual ‘land tax’ of $400 plus 0.3 per cent of the unimproved land value of their property. So, which should first home buyers choose? Today on Please Explain, senior economics writer Matt Wade joins Jess Irvine to discuss the new proposal, and whether this constitutes the bold ‘tax reform’ economists have been urging? Subscribe to The Age & SMH: https://subscribe.smh.com.au/ See omnystudio.com/listener for privacy information.
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