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That ACT Labor double-dip on “stamp duty swap for rates” ?

By 12 November 2012 4

“THE states and territories are preparing to offer the federal government a deal under which they will slash inefficient stamp duties in exchange for a $13 billion slice of the nation’s income tax.” The Australian, this week.

Can Katy Gallagher’s ACT Labor Government seriously argue that they weren’t already discussing and planning this arrangement with the federal government LONG before they started informing us that higher rates would be necessary “in exchange for slashing stamp duty”?  And how would this keeping quiet on key information regarding a key policy plank have affected the election one wonders?

And now that it’s out there, how much can rates be kept down for us, please, Katie et al, since you will not be inconvenienced, but compensated federally, for getting rid of stamp duty?

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4 Responses to That ACT Labor double-dip on “stamp duty swap for rates” ?
#1
davo1018:54 am, 12 Nov 12

Hey why not put a link to the article so we can see the important bits you didn’t mention? Such as:

1. This is only a proposal. It’s going to be “presented” to the Federal treasurer on the 8th December. I’d have a go at predicting his response but that’ll get my comment moderated.

2. The proposal is to cut stamp duty by 50% so we’d still have to find a replacement for the other half.

3. It’s proposed to fund the cut by using the expected bracket creep. So in other words you’ll still be paying, just in the form of income tax instead of rates or stamp duty.

#2
Comic_and_Gamer_Nerd9:35 am, 12 Nov 12

LABOUR AND GREENS = TRIPLE RATES

*moved to jerra*

*turns into cashed up bogan*

#3
tim_c10:16 am, 12 Nov 12

Er, wasn’t that the arrangement with GST? States/Territories would get the GST revenue from 1 July 2000 and in turn would abolish stamp duties from 1 July 2001 (a year later)?!

Best not to get your hopes up!

#4
davo10110:56 am, 12 Nov 12

tim_c said :

Er, wasn’t that the arrangement with GST? States/Territories would get the GST revenue from 1 July 2000 and in turn would abolish stamp duties from 1 July 2001 (a year later)?!

Best not to get your hopes up!

No. The deal was that a review would be made by 2005 to see if stamp duty on non-residential conveyances should be kept. I’m guessing the outcome of that review was: yes.

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