Submission: Buying in NSW, Building a Future

The Tenants' Union of NSW is pleased to provide comment on NSW Treasury’s proposal for reforms to our current tax system. We are primarily interested in the experience of people who rent their home in NSW and how the proposed introduction of a new property tax to replace stamp duty may impact them. The Tenants’ Union of NSW has long supported a move towards land tax as a more efficient tax collection tool with minimal negative impacts relative to other taxes, and significant positive impacts. We note and welcome NSW Treasury’s consideration of the impact of the property tax for NSW renters, and what protections and/or monitoring mechanisms should appropriately be put in place. We are pleased these issues are being closely examined.