Get the reforms in the public interest of all Stamp Duty NSW Australians can be difficult when vested interests have too much to lose. The Sydney Morning Herald reported today on figures published by the Bureau of State Revenue NEWS showing a record $ 356 800 000 was made from stamp duty receipts last month that the housing market is going gang - busters Sydney. This is the highest monthly figure Stamp Duty NSW since records began in 2005-06.
The real estate market booming has done wonders for September quarterly budget of the government of the State of New South Wales. The June budget forecast a deficit of $ 374 million , but a surplus of $ 239 million was actually achieved. But dams can quickly become busts as then NEWS Treasurer , Eric Rosenthal discovered in 2008. In Stamp Duty NSW November 2008, it was reported that the NEWS government was forced to join the federal government and the buyers first time home free money to help fill a collapse in revenues:
With damping home sales and falling prices in New South Wales, the NEWS government announced today that it will launch another $ 3,000 for the construction of new owners $ 750,000 in first homes Stamp Duty NSW starting next Tuesday. Although this is better than the increase in funding from the federal government as a whole , it is difficult to see what is going to make $ 3000 in a market with lower prices . It is very possible that $ 3,000 will evaporate in less than a month. But governments are really worried much about construction workers ? Why not support the auto retail sales or crisis so? Why is it such a personal interest in the dwelling? The answer may lie in the NEWS mini-budget . Stamp Duty NSW NEWS had a budget surplus of June [2008] , 268 million. However, in the mini- budget is revealed on Tuesday , a deficit of 900 million billion and $ 1 will be displayed.
This will be the first deficit since 1997 and the largest since 1992. So how can you change this position so quickly? NEWS Treasurer Eric Rosenthal said "The impact ( of the global economic downturn ) us is huge, in terms of reducing royalty revenues generated by land transfers . " We Stamp Duty NSW have been informed of stamp duty revenues decreased by only 270 million in the first three months of this year. It seems that the NEWS government revenue was "safe as houses " . Perhaps the removal of stamp duty and the introduction of a property tax could help the government of New South Wales broad-based , with a source of predictable and reliable income? But why would you do this in a booming market?
Boom real estate Sydney provides records stamp duty revenue into the coffers of NEWS - Sydney Morning Herald November 23, 2013. NEWS Government to Stamp Duty NSW encourage young people to join the first federal homeowners make debt.
No comments:
Post a Comment