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Tax breaks for Queensland borrowers

Staff Reporter 1 minute read

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.

Published 30-06-08 

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Tax breaks for Queensland borrowers
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