Queensland Treasury

Increased eligibility thresholds for transfer duty concessions: the first home concession extends to homes valued up to $800,000 (from $550,000) and the first home vacant land concession to land up to $500,000 (from $400,000).

First home buyers pay no stamp duty on homes valued up to $700,000 (tapering to $800,000), increasing the maximum concession by $8,600 to $17,350. Around 10,000 first home buyers a year are expected to benefit.

General Government revenue foregone, $90M in 2024-25 and $360M over 4 years to 2027-28. Offset by increases to foreign acquirer duty and land tax surcharge.

Temporary doubling of the First Home Owner Grant from $15,000 to $30,000 for eligible new home transactions entered into between 20 November 2023 and 30 June 2025.

First home buyers building or buying a new home receive $30,000 towards their home — double the standard $15,000 grant — for eligible transactions up to 30 June 2025. Around 12,000 first home buyers are expected to benefit.

General Government operating. Around $210M over 4 years to approximately 12,000 first home buyers; payments continue across forward estimates as homes are completed.

Extension of the 50 per cent payroll tax rebate on the wages of apprentices and trainees for a further 12 months to 30 June 2025.

Employers who take on apprentices and trainees continue to receive a 50 per cent payroll tax rebate until 30 June 2025, encouraging businesses to hire and train young Queenslanders.

General Government revenue foregone, $54.9M in 2024-25

Funding to progress the Gympie Road Bypass project to the next stage, including pre-construction works, a detailed reference design and investigation of tolling options on existing SEQ toll roads.

Pre-construction work progresses the Gympie Road Bypass in Brisbane's north, one of the city's busiest congestion points, towards delivery.

General Government operating. $318M over 3 years (Treasury pre-construction) plus $17M (Transport business case); total $335M over 3 years.

Funding to ensure effective and sustainable revenue and penalty debt administration, helping fund government responses to cost-of-living and housing pressures.

Additional resourcing for the Queensland Revenue Office supports sustainable collection of state taxes and penalty debts, helping fund cost-of-living and housing measures.

General Government operating, $117M over 4 years plus $35.2M per annum ongoing

An increase in the additional foreign acquirer duty and the foreign owner land tax surcharge (from 2 to 3 per cent), bringing them into line with New South Wales and Victoria, to offset the cost of expanded first home buyer concessions.

Foreign buyers and absentee owners pay higher duty and land tax surcharges, bringing Queensland into line with New South Wales and Victoria. The extra revenue offsets the cost of expanded first home buyer concessions, making the housing relief package revenue-neutral.

General Government additional revenue. $94.7M in 2024-25 (Land Tax Surcharge $74.5M + Additional Foreign Acquirer Duty $20.2M); $367.7M over 4 years. This is a revenue-raising measure; amount is additional revenue, not spending.