Peter Whish-Wilson (Tasmania, Australian Greens) Share this | Hansard source

My question is to the Minister representing the Treasurer, Senator Cormann—no proverbs today. In a piece in today's Sydney Morning Herald titled 'How Turnbull can kill stamp duty and produce a budget to remember', Peter Martin looks at the Greens' policy to swap stamp duty for land tax. He cites Treasury papers that show how stamp duty is dollar for dollar the most destructive tax, while land tax is the most efficient. He says:

… a stamp duty for land tax swap could boost the economy by a massive 82c for each dollar swapped. There's no bigger benefit imaginable from rejigging tax.

This is also backed by the Grattan Institute, ACOSS, ACCI, the Australian Industry Group and a whole raft of economists across the country because it provides productivity, investment, housing and infrastructure benefits. Will the government back the Greens' policy and work with the states via a Commonwealth loan to deliver a stamp duty for land tax swap?