Urgent reform of state property taxes - Land Tax and Conveyance Duty (Stamp Duty)

Tasmanian citizens draw the House's attention to the urgent need for a comprehensive review of Tasmania's property related taxes, including conveyance duty, land tax and duty on property insurance.

Housing is a major issue in Tasmania, with affordability continuing to worsen for owners and tenants. Each day, Tasmanians face the negative consequences of inefficient, inequitable and excessive taxes that inhibit property ownership, deter people from moving from properties that no longer suit their needs, drive rental prices higher, put shack ownership at risk and impact on insurance affordability.

Conveyance duty is a well-recognised barrier to home ownership and mobility. Tasmania's land tax far exceeds what is typical in other jurisdictions, with the aggregation of values worsening the burden of this tax further. It is acknowledged that limited changes have been made or committed to recently, however these changes alone do not alleviate the need for strategic reform.

We are calling for a full and consultative review of these taxes given the potential to uncover significant benefits for all by boosting home ownership, improving housing affordability, enhancing housing mobility, supporting the economy and jobs, and by providing consistent revenue for government.

Reform of property taxes is underway in other jurisdictions, including New South Wales which has recognised that property tax reform has the potential to put downwards pressure on housing over  longer term.

Your petitioners, therefore, request the House support a comprehensive review by the Government of Tasmania's property related taxes.