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The MFAA has welcomed the government’s enquiry into stamp duty, naming it an inefficient and unproductive cost which must be abolished.
“Removing the stamp duty on home loans is a simple measure that would boost activity in the housing and lending market and help drive the economy forward,” MFAA CEO Phil Naylor said yesterday.
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“It acts as one more reason to stop borrowers from upgrading to a more suitable home or to move to where there are better work opportunities.”
Mr Naylor’s comments follow the revelation yesterday that the Treasury secretary Ken Henry’s tax review is considering proposals to remove stamp duty.
“If we are serious about making Australia’s tax system more efficient, this is an impost that must go,” Mr Naylor said.
