Stamp duty will be scrapped for some first home buyers in Queensland, after the state parliament passed new laws to reduce up-front costs.

The Revenue Legislation Amendment Bill will deliver “major cost-of-living relief” according to the government, which said it was one of its key commitments to delivering a “fresh start for Queensland”.

It is estimated about 3,000 first home buyers will benefit from the changes each year.

“While it might not be everyone’s dream to own a home, our government wants to make it more achievable for every Queenslander who wants to,” Treasurer David Janetzki told parliament.

What’s changing?

From May 1 this year, first home buyers purchasing a new build will no longer need to pay stamp duty.

The costly tax, also known as transfer duty, can be a major barrier to home ownership, which was highlighted in submissions to the government about the legislation.

QShelter acting chief executive Jackson Hills said stamp duty was a high up-front cost disadvantaging aspiring first home buyers.