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Buying in NSW, building a future

Buying in NSW, building a future

20 March 2021
NSW

National Seniors Australia welcomes the opportunity to provide feedback on the NSW Property Tax Proposal and has put forward this submission in collaboration with members of our state and territory Policy Advisory Groups.

Summary
Summary: National Seniors expresses concerns about the proposal for an annual property tax, especially for older Australians who are asset rich but income poor. They believe that the proposal lacks sufficient information and financial modeling to make an informed decision. National Seniors suggests an alternative approach to collecting stamp duty incrementally to make it more manageable for landowners. They propose options for transitioning from stamp duty to property tax, including allowing landowners to opt-in or setting a clear cut-off date for full implementation. National Seniors emphasizes the importance of protecting those facing financial hardship and suggests measures such as capping property tax based on household income and providing provisions for deferring charges. They call for more information, modeling, and analysis of alternative tax arrangements before making any changes to the tax system.
Buying in NSW, building a future

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Giving older Australians a better future

National Seniors is a not-for-profit membership and advocacy organisation that gives older Australians – working and retired – a strong national voice. We tackle issues such as age discrimination, mature age employment, the Age Pension, social inclusion, cost of living concerns and more.

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