A Fresh Start for Queensland: Crisafulli Government axes two taxes to ease cost of living
I’m happy to share some exciting news for first home owners and anyone who needs to access health services, which, let’s face it, is ALL of us.
Both of these important tax updates are proof that the Crisafulli Government are delivering on their promise to cut the cost of living (now if only we could also cut the cost of avocados – how expensive are they right now?).
First on the chopping block is the Labor’s Patient Tax.
Axing Labor’s Patients’ Tax will stop Queenslanders paying more when they visit their general practitioner, protect local health services and ease pressure on hospital emergency departments.
The Other Axed Tax? Stamp Duty on New Build for First Home
Thousands of Queenslanders will benefit from abolishing stamp duty on new builds for first home buyers, which will be implemented from 1 May, 2025.
Due to an increase in demand, Queensland Treasury predicts the move could deliver an additional 800 new homes and support thousands of Queenslanders to get into their first home.
Eligible first home buyers will save $9096 on a median-priced house-and-land package in Queensland.
Labor locked Queenslanders out of the housing market by failing to address the cost of living, or tackle housing affordability for a decade, resulting in Queensland recording the nation’s lowest rate of home ownership of any state.
The Crisafulli Government is opening the door to home ownership for more Queenslanders and is delivering a place to call home.
The Government has already unlocked church and charity-owned land for additional community housing and enabled first homeowners to rent out rooms without financial penalty.
Treasurer and Minister for Home Ownership David Janetzki said the Crisafulli Government was delivering real cost of living action for Queenslanders.
“Thousands of young people who want to enter the housing market will save because of these initiatives,” Treasurer Janetzki said.
“For too long this State has been at the bottom of the home ownership ladder, but we’re unlocking the door for more Queenslanders.”
Treasurer Janetzki said stopping Labor’s Patients’ Tax was part of the fresh start the Crisafulli Government was delivering for Queensland.
“Abolishing Labor’s Patients’ Tax will stop families paying more to see the doctor and ease pressure on our stretched hospital system,” he said.
“GPs were calling for a stop to Labor’s Patients’ Tax and we’ve delivered just that.”
REIQ Chief Executive Officer Antonia Mercorella welcomed the new laws designed to give a leg up to first home buyers in Queensland by removing financial obstacles and restraints.
“This will save first time buyers of new homes and land tens of thousands of dollars and lower the upfront financial hurdles to home ownership,” Ms Mercorella said.
“Another sensible step backed by the REIQ is allowing first home buyers to rent out a room while keeping concessions – this not only supports home ownership but also helps address the need for rental supply.”
