Abolishing stamp duty on new homes for first home buyers will the first order of business when Queensland Parliament resumes next week.
Premier David Crisafulli said the Revenue Legislation Amendment Bill 2024 would be the first piece of legislation debated in State Parliament.
Premier Crisafulli said the Bill’s passage would pave the way for thousands of first home buyers to save on upfront transaction costs.
He a first home buyer purchasing a new house and land package in Toowoomba at the median price could save $24,730.
“First-home buyers would save $29,500 when purchasing a new build at the median price in Brisbane east, while in Logan-Beaudesert, they would have kept $6960 in their pocket.”
Premier Crisafulli said the stamp duty change would complement other initiatives to improve home ownership, such as unlocking underused church and charity owned land for community housing, removing restrictions preventing first home buyers renting out rooms and a $2 billion investment in housing infrastructure.
