Australian Housing and Urban Research Institute pitches affordable housing plan

A University of Tasmania paper has suggested property tax increases could be used to cover the abolition of stamp duty over the next decade.

The paper, led by University of Tasmania professor Richard Eccleston on behalf of the Australian Housing and Urban Research Institute, was the key topic of discussion at the National Housing Conference in Sydney on Thursday.

The transfer duty would be reduced by 10 per cent over 10 years.

An analysis revealed a modest annual property tax increase of $47 a year in Tasmania could fund the gradual reduction.

The paper argued the simplified duty system would remove costs from owner-occupiers who bought low-value properties and place more burden on investors who purchased high-value properties.

Click here to read more.