It will be interesting to see how this will effect the Victorian market. Should give quite a boost to the lower/middle end of the market I would think:
The Victorian State Government is setting its sights on budget repair, and will abolish stamp duty for commercial and industrial properties in a move they say will grow the economy to the tune of $50 billion.
The Federal Government is being pressed to dump stamp duty in favour of letting buyers choose an annual land tax.
Treasurer Tim Pallas says stamp duty will be halved for new homes and cut by 25 per cent for existing homes as of now through to June 2021.