Reserve Bank governor Philip Lowe has expressed support for the removal of stamp duty, which he has described as a “tax on mobility”.
On Friday (14 August), Philip Lowe, governor of the Reserve Bank of Australia, told the House of Representatives standing committee on economics that he would support the scrapping of stamp duty as part of a broader tax reform agenda to support the economic recovery effort.
“[Stamp duty] is a tax on mobility, people moving location,” he said.
“If we’re looking for an economy that’s dynamic and vibrant, we want to remove taxes on mobility.”
Click HERE to read to full article published by The Advisor on 17 August 2020.
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