Transfer duty concessions for first home buyers and payroll tax exemptions for medical practices
Revenue Legislation Amendment Bill 2024
Private Member's BillAssembly
Introduced by: David Janetzki (LNP)
Links to official parliament websites
Effects of this bill
If this bill passes, it means that:
First home buyers can get full transfer duty relief for new homes or vacant land used to build a home.
First home buyers keep their duty relief if they lease out part of their property.
First home buyers must notify the Commissioner if they stop living in the home or sell it.
Failure to notify the Commissioner about these changes is a criminal offence.
The Commissioner must reassess transfer duty if the actual residential part of a built home is smaller than the vacant land claimed.
Medical practices no longer pay payroll tax or the mental health levy on wages paid to general practitioners.