Transferring the tax burden away from people’s earnings and back on to the value of any land that they own would reframe housing as a home, not an asset.
Eliminating stamp duty would bring on more real estate transactions, but that might not be a good thing.
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The light rail project pushed up property values within 800 metres of the stations by over 30% from 1996 to 2016. Gains on this scale offer a potential source of finance for public transport.
The Gold Coast light rail project provides an opportunity to study the scale of property value gains arising from new transport infrastructure.
AAP/Dave Hunt