First home buyers purchasing a new build will no longer need to pay stamp duty under new laws set to pass in Queensland.
Stamp duty will be scrapped for some first home buyers in Queensland, with state parliament set to pass new laws to reduce up-front costs.
The Revenue Legislation Amendment Bill will deliver “major cost-of-living relief” according to the government, which said it was one of its key commitments to delivering a “fresh start for Queensland”. It is estimated about 3,000 first home buyers will benefit from the changes each year.
Q Shelter acting chief executive Jackson Hills said stamp duty was a high up-front cost disadvantaging aspiring first home buyers.
