Qld housing sector boosted by cost relief bill
Queenslanders struggling with soaring living costs will receive a financial reprieve after a cost relief bill was passed on June 19.
The Cost of Living legislation will deliver economic relief to households across the board - including to families, businesses, singles and first time home buyers.
Cost saving measures to be delivered under the legislation include getting rid of sustainability declarations when selling a property, re-establishing transfer of duty home concessions, fixing the standard electricity tariff, the increase of tax exemption threshold for companies by $100,000 and abolishing unnecessary red tape through new business regulations.
State treasurer Tim Nicholls said the bill would deliver significant financial relief to people with the abolishment of increased charges and taxes.
"This bill was the first introduced by the Newman government after the election and shows just how committed we are to reducing cost of living pressure for families and providing relief for small businesses," Mr Nicholls explained.
Families looking to buy a house will benefit from the lower transfer duty on properties - stimulating the Queensland property industry.
Mr Nicholls said: "This will also boost our ailing property sector which struggled under the policies of the previous government."