Queensland home buyers have been boosted by tax benefits across stamp duty, mortgage duty and the land tax threshold from tomorrow.
Stamp duty will be reduced on property up to $590,000 with first home buyers the biggest winners. The first home transfer duty exemption increases to $350,000 – a saving of $1650 rising to $500,000 by September and saving buyers as much as $9500.
Mortgage duty for home buyers, investors and businesses will also be scrapped.
The land- tax threshold for resident individuals will be held at $600,000 but tax payable at the threshold will be reduced from $1200 to $500.
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