July 08, 2020

Anna Murray 

On July 1, the New South Wales (NSW) government released a report about tax “new” measures. It had been brought in 2017 but failed then.

The proposal focused on increasing the goods and services tax, also using stamp tax to take the place land and property tax. However the stamp duty is about 1.5 to 2 times of the latter ones, which may take up to a one to two decades to change. 

The report also points out how to start the tax reformation.  It should kick off with ease rather than with complication, and then add more to move on. It is because most reformations lead to losers who pay more, and winners who benefit from it. And, numbers of losers are always more than the winners.   

Photo:Webshot.