Listening to the radio this morning I wonder do all these experts have any opinion of there own and actually think about a suggestion or are they all sheep who follow what seems like a great suggestion.
My problem is with the current movement to remove stamp duty for first time buyers up to a certain threshold. While I fully agree that stamp duty as it currently stands is a crime and should be restructured I fear that removing it for first time buyers only will widen the social class divide. My preference would be for stamp duty to be removed for all buyers up to a certain threshold provided the house purchased is for their residential purposes and they pay stamp duty on the current house if they decide to hang on to that. Possibly also having stamp duty only payable for house above the threshold for that amount is above the threshold.
Take for istance a young couple who bought a house in an area that is seen as “disadvantaged” with a lower price range. Now they want to move out into a “nicer” area but they are prevented from doing that because they have to pay stamp duty on a house that a first time buyer will not have to pay tax on. This to me is inequitable. Why should a person who can afford 450K or whatever the new threshold for a first time house be treated so more favourably than a family trying to improve their situation?? I’ve yet to hear any of our politicians or housing experts making this point.
Am I alone with this thought??
My problem is with the current movement to remove stamp duty for first time buyers up to a certain threshold. While I fully agree that stamp duty as it currently stands is a crime and should be restructured I fear that removing it for first time buyers only will widen the social class divide. My preference would be for stamp duty to be removed for all buyers up to a certain threshold provided the house purchased is for their residential purposes and they pay stamp duty on the current house if they decide to hang on to that. Possibly also having stamp duty only payable for house above the threshold for that amount is above the threshold.
Take for istance a young couple who bought a house in an area that is seen as “disadvantaged” with a lower price range. Now they want to move out into a “nicer” area but they are prevented from doing that because they have to pay stamp duty on a house that a first time buyer will not have to pay tax on. This to me is inequitable. Why should a person who can afford 450K or whatever the new threshold for a first time house be treated so more favourably than a family trying to improve their situation?? I’ve yet to hear any of our politicians or housing experts making this point.
Am I alone with this thought??