NSW launches first home buyers land tax scheme
The Premier says there’s already been strong interest in an annual land tax scheme.
First homebuyers can now opt to pay the annual tax instead of stamp duty.
An estimated 2.500 people will are already interested in signing-up to the system.
Senior associate in economic policy for the Grattan Institute Joey Moloney, told Deborah Knight take-up on the scheme should be popular in the state.
“There a lot of young Sydneysiders looking to buy a first home, and then upgrade 5 to 10 years later.”
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Shadow Customer Service Minister Yasmin Catley told Chris O’Keefe that the trial of cashless cards would involve at least 500 machines.
“It will give us a good indication if the technology is working.”
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Photo: Getty