Would never happen in a month of Sundays.
Let's move on from that to today's op-ed from Grattan, which recommended that other states follow the Australian Capital Territory (ACT) lead in phasing out stamp duties for a broad based property tax.
We can't after all run a parallel universe wherein another version of Canberra sticks with the old regime as a control experiment (Lord knows, just the one Canberra existing in our own Universe is plenty!).
Anecdotal evidence suggests that house prices have been going a bit silly in parts of Canberra, though I do worry about the outlook for the new apartment market in the city.
Less thrillingly, detached house approvals have tanked.
Attached dwelling commencements, on the other hand, have held up much better, perhaps reflective of record low interest rates, a structural shift towards attached dwellings, as well as strong pre-sales to offshore investors.
Long lead times
Whatever the causes, with the long lead times for apartments there are presently more than 5,000 dwellings under construction in the ACT, of which only 600 or so are detached houses.
But in any case, when the 5,000 dwellings under construction eventually hit the market, rents for apartments at least should eventually return to flat or falling in real terms.
As noted, we can't readily know the counter-factual, while some of the prevailing housing market dynamics in Canberra may be related to restricted land release, in particular the lack of responsive detached housing supply.
Therefore in the real world the most populous states would find it extremely difficult to phase in such a tax with the required long exemption period for existing homeowners, due to the initial revenue shortfall (look at the unprecedented stamp duty windfalls being delivered in New South Wales, for example).