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Queensland's govt 'should cut stamp duty'

Stamp duties for off-the-plan transactions should be cut by Queensland's government, Michael Matusik, of Matusik Property Insights, has claimed.
Queensland's government should cut stamp duties for off-the-plan transactions, an Australian property expert has claimed.

Michael Matusik, of Matusik Property Insights, wrote in his latest blog entry that the government could, and should, do this overnight.

"You have been talking about it. So now do it. The writing is on the wall. You must stimulate housing demand," he wrote, in comments aimed at the government.

Mr Matusik said that the government needs to add "something meaningful" to the regional relocation bonus and increase the state's contribution to the first home owners grant too.

Businesses in the property industry need increased cash flow in order to flourish or even just stay afloat, he added.

Last month, the Real Estate Institute of Victoria explained that those buying their first Australian property in the state can benefit from stamp duty cuts as long as the settlement of their purchase takes place on July 1st or after.

Posted by Steve Douglas
- tax, property, stamp, duty

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