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Property Taxes Boost Government Coffers

stamp dutyIn an article for the website Property Update, Cameron Kusher informs that property sources make up for a bulk of tax revenue collected by the local and state governments in Australia. $35.931 billion has been collected under the head of property taxes in the financial year 2012-13.

Over the financial year, property taxes have witnessed a hike of 7.2%. Land tax, Stamp duty and municipal rates make up for a large volume of property taxes. It is interesting to note that the much-debated Stamp Duty comprises of 36% of total property tax volume.

You can read the original article here.