Federal government must incentivise state tax reform

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New South Wales Treasurer Dominic Perrottet has flagged plans to replace stamp duty on property purchases with an annual land tax.

Tax experts taking part in a panel at a Blueprint Institute lunch have urged the federal government to back NSW by offering it and other states and territories financial incentives to scrap stamp duty:

The financial trouble states face when abolishing the tax was exactly why the federal government needed to step up, said Professor Stewart, from the Melbourne University Law School.

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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.