"In order to fund the Queensland Building Boost Grant and the abolition of the
Community Ambulance Cover levy, the Government is removing the transfer duty concession for homebuyers purchasing homes from 1 August 2011. The concession was estimated to cost the State $308 million in revenue foregone in 2010-11. At the same time, the transfer duty rate structure will be revised to ensure transfer duty payable on a home remains lower in Queensland than the standard arrangements in any other mainland state."
This is a considerable concession that will be wiped out for property buyers - PPOR buyers as Investment properties will continue to pay full stamp duty on.
Although there will be a $10K grant for new home buyers but only from Aug 2011 til Jan 2012 i think
Was only going to be a matter of time i guess...
OSS
Community Ambulance Cover levy, the Government is removing the transfer duty concession for homebuyers purchasing homes from 1 August 2011. The concession was estimated to cost the State $308 million in revenue foregone in 2010-11. At the same time, the transfer duty rate structure will be revised to ensure transfer duty payable on a home remains lower in Queensland than the standard arrangements in any other mainland state."
This is a considerable concession that will be wiped out for property buyers - PPOR buyers as Investment properties will continue to pay full stamp duty on.
Although there will be a $10K grant for new home buyers but only from Aug 2011 til Jan 2012 i think
Was only going to be a matter of time i guess...
OSS
