Wednesday, June 23, 2010

Drop stamp duty, demands Real Estate Institute

The Real Estate Institute of the Northern Territory says people are disgusted by the amount of stamp duty they have to pay the government.The institute's Quentin Killian needs stamp duty dropped and describes it as an unnecessary impost on a business transaction.

Mr Killian says in the last three years, the government has collected $333 million in fees from property sales.He wants a argue about how that money can best be spent.

"What I'm challenging here is a debate to say there is a lot of money being gather, there is a lot of money out there in government coffers, all of which has come from the sale and transactions of property," he said.

"Let's do something of value with it to make housing more affordable".

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