Revenue and Other Legislation Amendment Bill 2024
Bill Story
The journey of this bill through Parliament, including debate and recorded votes.
Referred to Housing, Big Build and Manufacturing Committee
▸1 clause vote (all passed)
Vote on clause 46
Vote on whether to retain clause 46 of the Electrical Safety bill, which grants health and safety representatives and entry permit holders the right to take photos, videos and measurements at worksites. The LNP opposed this clause citing privacy concerns and potential union misuse, but it passed 50-32 with ALP, Greens and Independent support.
The clause was kept in the bill.
A vote on whether a specific clause should remain in the bill as written.
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Ayes (50)
Noes (32)
▸1 procedural vote
Vote to grant leave
Vote on whether to grant Mr Bleijie (LNP) leave to move an amendment outside the long title of the Workers' Compensation bill. The government opposed granting leave and the motion failed 33-49, preventing the LNP amendment from being considered.
Permission was refused.
A vote on whether to grant permission — for example, to introduce an amendment or vary normal procedure.
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Ayes (33)
Noes (49)
Plain English Summary
Overview
This bill implements 2024-25 State Budget measures to help first home buyers and increase taxes on foreign property investors. It raises stamp duty concession thresholds, doubles the First Home Owner Grant to $30,000, increases land tax surcharges for absentees and foreign entities, and extends payroll tax rebates for apprentice wages.
Who it affects
First home buyers gain significant financial benefits through higher stamp duty thresholds and doubled grants. Foreign investors and absentee landowners face increased taxes on Queensland property.
First home buyer assistance
Increases stamp duty concession thresholds so first home buyers pay no duty on homes up to $700,000 (previously $500,000) and vacant land up to $350,000 (previously $250,000). Also doubles the First Home Owner Grant from $15,000 to $30,000 for new homes purchased between November 2023 and June 2025.
- First home stamp duty concession threshold increased to $700,000 (phasing out at $800,000)
- First home vacant land concession threshold increased to $350,000 (phasing out at $500,000)
- First Home Owner Grant doubled to $30,000 for eligible new home purchases
Foreign investor and absentee taxes
Increases taxes on foreign and absentee property owners. The Additional Foreign Acquirer Duty rises from 7% to 8% on residential property purchases, and land tax surcharges for absentees and foreign entities increase from 2% to 3%.
- Additional Foreign Acquirer Duty increased from 7% to 8% from 1 July 2024
- Land tax absentee surcharge increased from 2% to 3%
- Land tax foreign company and foreign trust surcharge increased from 2% to 3%
Payroll tax measures
Extends payroll tax relief for businesses employing apprentices and trainees, while limiting the regional employer discount to exclude extremely large employers.
- 50% payroll tax rebate for apprentice and trainee wages extended to 2024-25 financial year
- $350 million annual wage threshold introduced for regional employer discount eligibility