Stamp Duty Threshold Increased for First Home Buyers in Queensland

A general view of properties at North Lakes in Brisbane, Australia, on June 10, 2016. Glenn Hunt/Getty Images

First-home buyers in Queensland will be better off under a budget commitment to increase the threshold for the first homeowner concession on stamp duty.

The Queensland government will increase the concession on transfer duty from $500,000 (US$330,000) to $700,000 in Tuesday’s budget with the concession then phasing out up to values of $800,000.