Academics and housing industry representatives yesterday used the Federal Government's tax forum to call for the abolition of stamp duty and insurance taxes.

State and territory treasurers responded that they could not afford to scrap the taxes unless the shortfall was made up elsewhere.

Mr Swan made it clear to his state and territory counterparts that in the current fiscal climate, the Commonwealth could not afford to compensate them for reforming their tax systems.

But Mr Swan strongly hinted that the Federal Government would provide assistance to companies suffering under the impact of the Australian dollar.

ACT Treasurer Andrew Barr told The Canberra Times that the territory Government would look at options for reforming stamp duty, which is levied at a rate of $15,000 on the purchase of a $400,000 home.

''We can certainly look at whether the mix is right in terms of what are the rates at the top end, versus the level of exemptions at the bottom,'' Mr Barr said. ''I think there's some scope for further distribution of that tax burden and we'll look at that.''

First-home buyers and people who qualify for the home buyers concession scheme are eligible to defer payment of stamp duty.

Mr Barr said the Government was also looking at options for reforming payroll tax, which currently only applies to businesses paying at least $1.5 million in wages and salaries.

''Our current policy setting has high thresholds so that you exclude small business from paying payroll tax but as a result have a higher rate,'' he said. ''There are a number of reform options there.''

The land tax and payroll tax issues were both being examined by former treasurer Ted Quinlan's review of the tax system.

Mr Barr said tax reform in the ACT would have to occur over an extended time unless Commonwealth assistance was provided.

Mr Swan ruled out giving the states and territories a fixed share of income tax.