Property tax having a detrimental effect in Australia, says analysis report

Few things have as detrimental an impact as property stamp duty on household finances in Australia, according to the Housing Industry Association, the voice of Australia’s residential building industry. The HIA’s Summer 2015 Stamp Duty Watch report shows that during November 2015, the typical stamp duty bill nationally rose to $19,045 from $17,653 in June, an increase of 7.9%. The cost of stamp duty is equivalent to almost four months’ worth of earnings, with stamp duty causing mortgage re...