OPENING LINES QUEENSLAND’S STAMP DUTY SHAKEUP: FIRST-HOME BUYERS HANDED TAX RELIEF Source: https://www.realestate.com.au/, Juliet Helmke, First Published Feb 21st, 2025 Queensland Premier David Crisafulli, who took up the role after an upset election at the end of 2024, has axed a big tax for the state in an effort to help first-home buyers while also hoping to boost the construction of new homes. Mr Crisafulli announced that the state would axe stamp duty for all first-home buyers purchasing new builds in the state. The reform, which is set to be implemented from 1 May, 2025, is expected to save Queensland first-time buyers an average of $9,096 on a median-priced house-and-land package. First-home buyers in Queensland are already eligible for a stamp duty waiver when purchasing a property under the value of $700,000, and a concessional rate for homes valued up to $800,000. A vacant land concession has also been available in the state on residential lots valued up to $500,000 for eligible first home buyers. Under the changes, first home buyers who enter 7 BUSINESS VIEW OCEANIA VOLUME 07, ISSUE 02
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