STATE ECONOMY —
STAMP DUTY REBATE
1246. Hon SIMON O'BRIEN to the minister representing
refer to the government's policy of a substantial rebate or concession
on stamp duty for off-the-plan apartment buyers.
What is the government's
policy in relation to stamp duty for buyers of existing apartments, buyers of
houses and seniors wishing to downsize their empty-nest home for another
residence? Please note the purpose of this question is to discover the policy
intentions of the current government, not the last government.
The PRESIDENT: I am not sure
how you respond to that last part, Minister for Environment.
STEPHEN DAWSON replied:
I thank the honourable member for
some notice of the question. The following answer has been provided to me by
The government provides generous
stamp duty assistance to first home buyers of new and existing homes, including apartments, valued up to $530 000. This
is on top of the $10 000 grant for first home buyers of new homes. The
stamp duty exemption and concession thresholds were cut by $70 000 under the
previous Liberal–National government, pulling $222 million out of the
hands of first home buyers. It also removed the first home owner grant for
announced yesterday, a stamp duty rebate of up to $50 000 is also available on
purchases during the next two years of off-the-plan homes in a multi-tiered
development. Seniors wishing to downsize will also benefit by being able to
access this rebate. First home owners can also access the rebate above the
first home buyer stamp duty exemption threshold. Purchasers of residential
properties also benefit from a concessional transfer duty scale relative to the
scale that applies to other properties.
Several members interjected.
The PRESIDENT: I was just
enjoying the mirth from the back row. I give the call to Hon Ken Baston.