New South Wales Land Tax Plan to Cover Most Home Sales

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New South Wales Land Tax Plan to Cover Most Home Sales

More than eight out of ten homes sold in Australia’ state of New South Wales would qualify for a proposal allowing first home buyers to opt for an annual land tax over paying one-off stamp duty, the government says. About 84 per cent of homes sold fall under the A$1.5 million (US$982,192) threshold for the scheme, which the government hopes to introduce by January. It’s part of the government’s A$2.8 billion (US$1.8 billion) housing package in t…