A Fresh Start for Queensland: abolishing stamp duty top of the agenda for Parliament
- The Crisafulli Government has announced abolishing stamp duty on new homes for first home buyers, will be the first priority of Parliament returning next month.
- The Revenue Legislation Amendment Bill 2024 to be the first piece of legislation debated in the Parliament, delivering major cost of living relief to Queensland first home buyers.
- Abolishing stamp duty is a key commitment to deliver a Fresh Start for Queensland and restore a place to call home for more Queenslanders, easing the Housing Crisis.
The Crisafulli Government has today announced abolishing stamp duty on new homes for first home buyers will be the first action of Parliament this year, delivering major cost of living relief to Queenslanders.
The move will pave the way for thousands of first home buyers to save on upfront transaction costs, unlocking home ownership for more Queenslanders while also boosting housing supply across the State.
After a decade of Labor, Queenslanders were locked out of the housing market with the state recording the lowest rate of home ownership of any state in the nation.
Abolishing stamp duty on new homes for first home buyers is just one of the actions the Crisafulli Government is taking to boost home ownership, including unlocking underused church and charity owned land for community housing, removing restrictions preventing first home buyers renting out rooms and kickstarting new development with a $2 billion investment in housing infrastructure.
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 keep $6960 in their pocket.
Premier David Crisafulli said every Queenslander should have a place to call home.
"We are unlocking more homes for more Queenslanders, more quickly," Premier Crisafulli said.
"For far too long, stalling housing approvals and skyrocketing housing prices have shut the door on Queenslanders walking into their own home.
"For the past decade, the dream of home ownership has become a nightmare for Queenslanders."
Treasurer and Minister for Home Ownership David Janetzki said the LNP would put Queensland back on top of the home ownership ladder within a decade.
"Queenslanders are losing hope in the Great Australian Dream of home ownership and the situation has never been more dire for young people wanting to purchase their first home," he said.
"Never before have so many young Queenslanders wanted to own a home, and never before have so many believed it is out of reach.
"The Crisafulli Government is delivering a fresh start for Queensland, and we are boosting housing supply to increase Queensland home ownership rates.
"Scrapping first home buyer stamp duty on new builds provides real savings and puts the Great Australian Dream back within reach."
