How a tax you rarely pay is slowing the property market
Stamp duty is an inefficient tax that makes it harder for first-time buyers to enter the property market and prevents empty nesters from downsizing, economists say.
Experts say it should be reformed to ease affordability and supply issues. However, some critics say removing the tax would have a minimal effect, as the added cost is often added to loans or taken from equity gains when selling another property to move.
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