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The Guardian - AU
The Guardian - AU
National
Michael McGowan

Stamp duty vs land tax: how to save money on five NSW properties

Dominic Perrottet Guardian Australia Labor Sydney
First home buyers in NSW will soon be able to choose between paying stamp duty upfront or an annual land tax, if a government proposal becomes law.
First home buyers in NSW will soon be able to choose between paying stamp duty upfront or an annual land tax, if a government proposal becomes law. Photograph: Mark Baker/AP

If the New South Wales government gets its way, first home buyers in the state will be faced with an interesting question from January: pay stamp duty upfront, or opt for a yearly land tax.

Introduced into parliament on Tuesday, the proposal is a scaled-down version of the policy initially outlined by the premier, Dominic Perrottet. It would give first home buyers the option of paying land tax over stamp duty on homes worth up to $1.5m.

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