The abolition of stamp duty on new homes for first homes buyers in Queensland begins tomorrow (May 1).
Premier David Crisafulli said the initiative would deliver an average saving of $9906 for a median house and land package across Queensland.
“In Brisbane North, that’s a saving of almost $39,500 for a house and land package at the median price, and a saving of more than $24,000 in Toowoomba,” Premier Crisafulli said.
He said Queensland had the lowest rate of home ownership of any state in the nation at 63.5 percent, below Victoria at 68.3 percent and Tasmania at 70.1 percent.
State Treasurer David Janetzki said stamp duty was disadvantaging Queenslanders and making them wait longer to own a home.
“This is a commonsense change that will provide real cost of living relief.
“These steps will help first time buyers and ease record low vacancy rates while also encouraging new builds and boosting housing supply.”
More details are available on the Queensland Revenue Office website.
