Property Stamp Duty is a significant barrier to a vibrant property market, and a big barrier to the first home ownership here is South Australia.
It is essential we match recent reforms in NSW and Victoria to provide stamp duty exemption for first home buyers. Here in South Australia, we need the first $500,000 exempt from Stamp Duty for first home buyers.
We struggle to keep our younger generation here in South Australia. We need tax reform to incentivise these future leaders to establish a base here AND remain connected to South Australia.