Should homebuyers pay a levy to stamp out duty?

All property owners should pay a regular levy to state governments so they can eliminate “inequitable” stamp duty, said influential think tank, The Grattan Institute. A property levy could raise $7 billion a year.

Grattan Institute’s John Daley said Australians pay less in property taxes than Canada, the United States and New Zealand. Daley said a $2 levy for every $100,000 of unimproved land value would equate to $772 per year on a median-priced Sydney home.

Source: The Daily Telegraph