Queensland government passes new laws scrapping stamp duty for first home buyers purchasing new builds

Queensland’s state parliament has passed new laws scrapping stamp duty for some first home buyers, aiming to ease up-front costs and provide cost-of-living relief. The government estimates around 3,000 buyers will benefit each year, calling the move part of its commitment to a “fresh start for Queensland.” Treasurer David Janetzki said the initiative is about making home ownership more achievable for those who aspire to it.

From May 1, first home buyers purchasing a new build will no longer pay stamp duty, a costly tax that has been a major barrier to home ownership. Submissions to the government highlighted the financial strain it creates, with QShelter’s acting chief executive Jackson Hills noting its impact on aspiring buyers. The reforms will also allow first home buyers to rent out a room during their first year of ownership, providing additional financial flexibility.

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