THE Victorian Opposition has announced it will abolish stamp duty for first home buyers on all properties up to $1 million – established or off-the-plan – if it wins next year’s election.
The Liberal-Nationals claimed that the Parliamentary Budget Office estimates the policy would deliver more than 17,000 exemptions in its first full year, “helping young Victorians into a home while injecting confidence back into the property sector”.
Leader of the Opposition, Brad Battin, said the policy would help thousands of Victorians and deliver a significant boost to the state’s stalled economy.
“This is a bold, common-sense reform that backs aspiration, rewards hard work, and helps young Victorians break into the housing market,” Mr Battin said.
“Labor’s war on property and addiction to tax has destroyed confidence in the economy. We need a plan to grow, not just tax and spend.”
