I contend that for a nation to try to tax itself into prosperity is like a man standing in a bucket trying to lift himself up by the handle. — Winston Churchill.
If ever a tax could be compared with the handle of Churchill’s bucket, it would have to be stamp duty.
Like the handle it was designed with a purpose, but for the man in the bucket — read homebuyers — it fails to deliver.
Of course, it delivers for governments, making up over 10 per cent of revenues for the state and territory coffers, but it seriously fails the people who pay...
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