“This means for the majority of first home buyers who are not already receiving stamp duty assistance, First Home Buyer Choice will not only allow them to enter the property market earlier, but pay less overall,” he said.
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The property will not be locked on the annual tax scheme forever upon resale, as initially suggested in an earlier version of the scheme.
The NSW party said it would never support the plan, and believed the government should pass policy on to voters in March.
“Mr Berotier does not have a mandate to levy a tax in perpetuity on people’s homes, and NSW workers will not support it,” said opposition finance ministry spokesman Daniel Mukhi.
While the bill has yet to be introduced, Finance Minister Damien Todhope said the government did not expect “the same narrow-minded view” as the NSW party from other MPs.
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“If Labor does not support this reform, then Labor does not support homebuyers first,” Toddhope said.
Despite NSW Labor’s opposition to tax reform, the legislation is expected to pass quickly through the House of Representatives with support from key independents such as Alex Greenwich and Greg Piper, who both said it was a reasonable step to help first home buyers enter the House. real estate market.
In the Senate, Green MP Abigail Boyd said that although the Greens support a planned broad transition from stamp duty to land tax, it should be referred to an investigation, “not to delay, but to correct it.”
Robert Bursak, a Member of Parliament for the Shooters, Hunters and Farmers Party, said his party opposed the reform, adding: “The way we look at it, you’re actually going to rent your property from the government.”
However, One Nation’s Mark Latham said it was a critical housing affordability measure that had the full support of his party, pending further details of any proposed legislation.
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Originally published at Melbourne News Vine
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