Pete Wargent
speaker
553 appearances
2 recordings
1 series
first heard Oct 2022
last heard Jan 2023
Pete Wargent’s voice in public audio — every appearance, attributed to the second.
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Appearances
That's usually what's happened when you actually give a boost or a handout or a grant or whatever.
I think the general idea is that over time we'll transition away from stamp duty, which is a very lumpy and pro-cyclical tax towards an annual land tax, which is obviously much smoother revenue for the government.
I guess there's arguments for and against land tax, it's an annoying annual fee for
for people and I guess the challenge with it is when you've got people who've already paid their stamp duty, they say, well, I'm not paying land tax.
So that's why it can only easily be phased in over time, which is what they're trying to do in New South Wales.
Yes.
Yes.
It's based on the actual asset or the property in case in New South Wales anyway.
It may be different when other states come to tackle it.
That's exactly it.
Yeah, and that's how we phased in over time because presumably most first-time buyers are going to say, why would I pay stamp duty up front?
It's the old bird in the hand versus two in the bush idiom or whatever the phrase is.
We'll edit that in later.
But that's right.
But it stays with the property, not the buyer.
So the next buyer of that property will not have a choice.
Yeah, there's been an equivalent situation with lenders, mortgage insurance over the years, right?
So you, well, whisper it quietly, but pre-2007, you could buy with no deposit at all.
In fact, in England, you could get 110% mortgages and whatever, but-
But there was, yeah, what could possibly go wrong?
Showing 421–440 of 553 · page 22 of 28
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