MEDIA STATEMENT: A Fresh Start for Queensland: Crisafulli Government to abolish two taxes

A Fresh Start for Queensland: Crisafulli Government to abolish two taxes

• Crisafulli Government follows through on commitment to abolish stamp duty on new homes for first buyers and axe Labor’s Patients’ Tax.
• Legislation introduced to Parliament today will boost home ownership and drive-down cost of living pressures.
• Fulfils another two commitments from the Government's 100 Day Plan

The Crisafulli Government is delivering on its cost-of-living commitments to improve first home buyers’ access to the housing market and to reduce healthcare costs.

The Revenue Legislation Amendment Bill 2024, introduced to Parliament today, abolishes stamp duty on new builds and land for eligible first-home buyers.

The change will also axe Labor’s Patient’s Tax, to stop Queenslanders paying more when visiting their GP and ease pressure on struggling Emergency Departments.

Abolishing stamp duty will pave the way for thousands of young Queenslanders to save on upfront transaction costs, easing the pressure of home ownership, while also incentivising a greater supply of housing.

A first home buyer purchasing a new house and land package in Toowoomba at the median price could save $24,730, in Brisbane north, this would equate to a saving of almost $37,000, while in Moreton Bay south, it would save $24,325.

Abolishing stamp duty on new builds for first-home buyers was part of the LNP’s Securing our Housing Foundations Plan for Queensland to have the highest home-ownership rate in the country by 2034.

In a win for patients and Queensland’s primary health system, the removal of Labor’s Patient’s Tax will occur from this month, with GPs no longer to be subject to payroll tax or the mental health levy. 

Treasurer David Janetzki said abolishing the taxes were key commitments from the Government’s 100 Day Plan.

“The Crisafulli Government is unashamedly focused on boosting housing supply to help increase Queensland home ownership rates, which are the lowest of any state in the nation,” Treasurer Janetzki said.

“Scrapping first home buyer stamp duty on new builds provides real savings and puts the Great Australian Dream back within reach.

“By axing Labor’s Patient’s Tax we are protecting bulk billing for Queenslanders and easing pressure on our Emergency Departments and easing cost of living for families.

“In the middle of a Cost of Living Crisis, the Crisafulli Government has taken real measures to ease cost pressures for Queenslanders.”

RACGP Queensland Chair Dr Cath Hester applauded the Crisafulli Government’s abolition of payroll tax on GPs, making general practice care more affordable for Queenslanders.

“This will come as a big relief for practice owners, GPs and our patients who value the relationship they have with their GP highly – there is no substitute for the quality care you get from a specialist GP,” she said.

ENDS

MEDIA CONTACT: Harry Spicer 0452 118 197