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Calls to abolish stamp duty for first home buyers in Queensland

Planning Institute of Australia

Planning Institute of Australia, Queensland Division calls on the Queensland Government to follow Victoria’s lead in providing stamp duty relief for new home buyers.

Housing and housing affordability will no doubt be a key issue at the next state election. “It is essential that whoever forms government embraces polices to promote more affordable housing in the Queensland economy” said PIA Queensland President, Todd Rohl MPIA.

“The Queensland government must be acutely aware that housing is clearly in the minds of voters, both in terms of job creation in the sector, and also the upward pressure on housing prices” Mr Rohl added.

“Stamp duty reform, particularly for first home buyers, is one way PIA believes would assist in more Queenslanders being able to access appropriate housing,” he stated.

In particular, consideration should be given to the removal of stamp rates for first home buyers and multiple charging of stamp duty on new housing should be eliminated.

Stamp duty on new housing is a triple taxation reflected in new house prices as it applies to the sale of land to a developer, the sale of land from a developer to a builder and the sale of a house and land package to a purchaser. In other industries, for example the used car industry, the commodity is regarded as holding stock and does not attract stamp duty until the sale to the ultimate consumer.

“What PIA would like to see is detail from all parties as to how they will tackle this and other housing affordability issues, now, for Queenslanders.”

 

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