as the payroll tax, high land tax and property transfer duty. "Taxes that basically hinder investment and movement of business and capital," he said. "Things such as transfer duty on property are regarded as inefficient taxes. "Payroll tax is widely loathed the way it is currently applied as an inefficient tax because it prevents people from employing more. "High land tax and high transfer duty rates stop people making proper decisions for where the want to set their business up and to make it based on tax decisions rather then business decisions." A similar proposal was flagged at the treasurer's meeting in Sydney but dismissed without proper consultation by the Federal Government, Mr Nicholls claimed.