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September 25, 2023

Request for stamp duty waiver for flood-affected residents denied

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A local flood-affected resident contacted The Echo around their disappointment that a request was denied by the NSW Labor government to have stamp duty waived on new purchases for flood victims who were saying ‘yes’ to a buyback.

As previously reported, buyback offers made by the the Northern Rivers Reconstruction Corporation (NRRC) are at post-flood market rate, and there is little transparency around the appeals process. The NRRC’s responsibilities were transferred to the NSW Reconstruction Authority on July 1.

The resident, who wished to remain anonymous said, ‘At our most vulnerable time, when we need support now more than ever, not only are NRRC failing to aid the recovery process, but the NSW state government are also failing to read the room.’ 

They said the NSW Treasury Department replied, ‘Unfortunately, under current legislation there is no discretion for the government to waive or reduce a stamp duty liability that is properly payable. This is important to the integrity of the law, to ensure that it applies consistently and without prejudice or favour.’ 

The resident said, ‘Does the NSW state government really need to make profit from flood victims? When does the madness end?’

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  1. Compassion doesn’t seem to bear any significance for the flood affected victims. It seems as though the NSW government likes to add to their coffers regardless of circumstances. Sham on you.

  2. One might be even tempted to think that certain powers that should not be deliberately caused the series of floods as revenge for the community standing up to say no to fracking. Not that I’m suggesting chemtrails are real or able to modify the weather or anything. I would never say that like I’ve said for the past two decades. Oh no. That would be crazy.


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