Will the property market crash? How devastating could it be?

  The dreaded B-word is yet to be utilised with mainstream, middle of the road economists but many are saying that people should think twice before buying property in the current market, especially in Sydney and Melbourne. American ratings agency Standard & Poor, has become more focused and vocal on the Australian market in recent…

Stamp duty is making up 51.9% of tax revenue.

Revenue from property transactions accounts for 51.9% of total tax revenue for local governments Latest figures from the ABS (Australian Bureau of Statistics) in relation to taxation data for the 2015-16 financial year show that $49.5b in property taxes were collected by state and local governments. This was 9.6% higher over the year and is…