Bankwest residential stamp duty report 2008
01 December 2008
The inaugural bankwest Residential Stamp Duty Report identifies the big winners and losers in the national stamp duty stakes across Australia by comparing the stamp duty burden as a percentage of household income, median stamp duty bills and stamp duty as a percentage of property prices. The latest in bankwest's on-going Financial Indicator Series, the Stamp Duty Report examines data at the local government level (LGA).
The groundbreaking research found that stamp duty on the typical Australian home has soared 59% over the past five years, almost double the rise in household income over the same period.
It reveals that more than $53 billion of stamp duty receipts - both residential and commercial - have been paid to State and Territory Governments over the past five years, while annual stamp duty revenues increased 77% over the period.
The Residential Stamp Duty Report helps explain why Australians are finding it difficult to enter the housing market, and highlights how more than half of all state governments are benefiting from threshold limits that have not been changed to reflect higher property values.
The data was sourced from State Government Revenue Offices, the Australian Bureau of Statistics and Residex.
Download a copy of the full report and a breakdown on each state below:
Stamp Duty Maps