Stamp Duty – time to go?

Written by
Dr Lisa Bridgett
on
April 19, 2024

Stamp Duty. Is it time to go?

The e61 Institute and PropTrack are shaking things up with their latest bombshell. Brace yourself as we uncover the harsh truth: stamp duty isn’t just a hefty tax – it’s an outdated and inefficient one.

Cast your mind back four decades, when buying a property meant sacrificing a month’s wages to stamp duty. Fast forward to today, and the numbers are staggering. Sydney and Melbourne residents are forking over a whopping six months’ worth of earnings, with Adelaide and Brisbane not far behind.

Angus Moore, the economic whiz at PropTrack, breaks it down. Property prices have skyrocketed, while incomes have barely budged. Result? Stamp duty is stuck in the past, with brackets that fail to keep pace with soaring property values. Translation: the more you spend, the more they take.

But hold on, it gets worse. Stamp duty isn’t just a pain in the wallet; it’s a roadblock to economic growth. According to e61 Institute and PropTrack’s research, every increase in stamp duty rates sends home purchases plummeting. Case in point? Queensland’s 2011 hike slashed home purchases by a staggering 7.2% for every percentage point increase.

So, what’s the solution? It’s time to ditch stamp duty and embrace the reigning champ: land tax. Why? It’s a steady revenue stream, fairer, greener, and far less hassle.

Thinking of diving into the property market? Let me be your guide. Together, we’ll navigate the murky waters of stamp duty and turn your property dreams into reality – without the nightmares.

Book in for a Chat today

other insights

The Impact of the RBA Holding Rates on Mortgages and the Property Market (April 2025 Update) Introduction The Reserve Bank of Australia’s (RBA) decision to hold the official cash rate at 4.35% in April 2025 has triggered widespread discussion across the mortgage and property sectors. With inflation softening and economic

From Separation to Strength: Your Financial Fresh Start After Divorce By Dr Lisa Bridgett | Founder, Stellar Finance Group Divorce isn’t just the end of a relationship – it’s a complete reset of your emotional, legal, and financial life. I know this firsthand. As a solo mum with two children

​Buying your first home is one of life’s biggest milestones — but with housing affordability more strained than ever, getting a foot in the door can feel overwhelming. According to Domain’s 2025 First Home Buyer Report, the time it takes to save a 20% deposit for an entry-level home has

​Introduction If you’re a professional in Australia, you may have access to exclusive home loan benefits that can help you secure better financing terms. Many lenders offer professional waivers, which can include discounted interest rates, waived Lenders Mortgage Insurance (LMI), and higher loan-to-value ratios (LVRs). These perks are designed to

​On February 18, 2025, the Reserve Bank of Australia (RBA) reduced the official cash rate by 0.25 percentage points, bringing it down from 4.35% to 4.10%. ​A welcome change to say the least! What does this mean for borrowers? Lower Monthly Repayments: For homeowners with variable-rate mortgages, this rate cut

At Stellar Finance Group, we’re all about making the complex simple and helping you secure the right financial solution for your needs. Today, we’re diving into the world of low documentation loans – a game-changer for borrowers who need flexibility without the hassle of mountains of paperwork. What Are Low