<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>South Australians wanting to buy property wouldn't have to pay stamp duty under an ambitious plan announced by the state opposition today.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>It says it would shake up the property market and make it easier for people to buy homes, but critics are questioning where the money is coming from.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Under the Liberals' plan, the tax would be phased out in stages by 2041.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/world/louisville-united-states-postal/f0722233-0e0b-443c-b5f8-f3b3516f6621"><strong><span>Death toll rises to seven after US cargo plane crash</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We know that stamp duty is an inefficient tax," Opposition Leader Vincent Tarzia said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"We know it makes it harder for young people to buy a new home and makes it harder for older people to downsize."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, the proposed policy has drawn mixed reactions, with questions raised about its financial viability.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/south-australia-proposal-abolish-stamp-duty/cbcab67b-6e80-430e-8498-97005e72be91" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Treasurer Tom Koutsantonis has been particularly critical, highlighting the $1.6 billion a year in revenue that stamp duty generates for the state.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"This is the equivalent amount of money as firing every police officer twice," Koutsantonis said. </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/finance/private-credit-sector-failing-customers-asic-investigation/20427743-0030-4d64-b8fa-8839dd7c7e0a"><strong><span>Corporate watchdog warns $200 billion Aussie industry to lift its game</span></strong></a><strong><span></span></strong></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If your budget is cut by a third, can you deliver the same service?"</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"If they can't explain how they are going to pay for this, there will be cuts, severe cuts," he added.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The opposition has insisted no new taxes will be raised to make up for the shortfall.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"There will be no new taxes under a Tarzia Liberal government," the opposition leader said, adding that "we are not making any cuts to frontline services". </span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>But exactly how the policy will be paid for is yet to be seen, with the Liberals saying that plan will come closer to next year's election.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><em><span>This article was produced with the assistance of</span></em><span> </span><a href="https://www.9news.com.au/technology/9express/16480c33-636a-461f-9c4f-d0e2522c722a"><em><span>9ExPress</span></em></a><em><span>.</span></em></div></div>