NSW stamp duty overhaul ‘vanilla’ but could help first home buyers cut costs

Experts say while the policy is welcome, it would do little to address some of the main problems with stamp duty. Photograph: The Guardian

First home buyers could save tens of thousands of dollars under the New South Wales government’s proposal for an optional land tax but housing experts say the “vanilla” plan falls well short of the “revolution” it had initially promised.

On Monday the government said it would introduce its plans for an overhaul of stamp duty into the state’s parliament this week.