Hon. Charles Smith asks about residential stamp duty receipts and whether Treasury considers it an inefficient tax, referencing NSW's potential switch. The Minister provides limited data and defends stamp duty as a revenue source.

AnsweredQoN 1316Legislative Council
Asked
24 November 2020
Portfolio
Finance

QuestionView source ↗

STAMP DUTY
1316. Hon
CHARLES SMITH to the minister representing the Minister for Finance:
I refer to the New South Wales
Treasurer signalling a stamp duty–land tax switch.
(1) What were the total residential
stamp duty receipts in 2019?
(2) What were the total residential
stamp duty receipts in 2018?
(3) Does Treasury concede that
residential stamp duty is an inefficient state tax?

AnswerView source ↗

I thank the honourable member for
some notice of the question. The following answer has been provided to me by
the Minister for Finance.
(1) Existing
reports that separate residential transfer duty collections from other transfer
duty amounts are produced and verified for financial years only. In the time
frame provided, it is not possible to reconfigure and verify RevenueWA's
reporting functionality to provide calendar year figures.
(2) See answer to (1).
(3) Stamp duty is
an important source of revenue for state government that indirectly supports a range
of public services and infrastructure.

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