Abolition of stamp duty gets NSW nod - National - smh.com.au Hmmm... and pigs might fly before this happens! Can you just imagine the reaction if GST was raised to compensate? Stamp duties are such a windfall for the state govts- and especially in NSW, which has the highest median in Australia. They've been raking it in for years, at increasing rates as well, as the prices rise. I've always thought it would be fairer if stamp duty were capped at a certain figure or else wasn't calculated as a % of the property purchase price but was subjected to a sliding scale of ranges instead. It's such an impediment to investors, along with the dreaded land tax.