REI Urges Stamp Duty Abolition

The Real Estate Institute (REI) of New South Wales says the Government must act to abolish stamp duty if it wants to revitalise the rental property market in areas like the north coast.

The State Government has said it would scrap the duty if it is compensated for the loss of revenue.

The institute’s Tim McKibbin says the availability of rental homes in the Northern Rivers has fallen to one of the lowest rates in the state.

He says the Government should immediately abolish stamp duty and land tax which are preventing investment in the rental sector.

“It’s a complete disincentive. Other forms of investment simply don’t have those forms of impediment to the market,” he said.

“The citizens of this state, and I am aware the north coast is certainly no exception, are suffering and suffering badly, and we’ve been calling on the Government to address this issue, and they simply have to take this problem on.”

13 August 08

• NSW Cans Petrol Subsidy
• Speedier Development Worries LGA Chief
• DPI Reports on Hail Damaged Crops
• Hail Storm Hits Northern Rivers Hard
• Sugar to Fuel Supercars
• North Coast Selects Mayors
• REI Urges Stamp Duty Abolition
• Big Rate Rises Unaffordable for Residents
• Rex Pushes for Boost in Airport Funding
• Stamp Duty & Land Tax Deter Vital Rental Property Investment
• Get Growing Clarence!
• Tugun Bypass Complete
• Cross-Border Train Service Report Due Shortly: Iemma
• Mayor Predicts Big Changes to Regional Water Utilities
• Budget Gets Tick from NSW Business Community
• Byron Council Seeks Feedback
• New Yamba Port Storage Will Boost Shipping
• New Alcohol Free Zone for Maclean
• Have Your say in Clarence Tourism
• Marketing Campaign to Boost North Coast Tourism
• Students Help Northern Rivers Business Innovators
• Thousands Cheer Rudd's Apology
• Flood victims to get free legal advice
• Iemma Extends Flood Disaster Zone
• Regional grants controversy won't stop Casino bio-fuel plant: Vaile

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