Stamp duty to fatten Qld coffers $1.9bn
The Queensland Government has more than trebled its revenue from stamp duty in only five years and property buyers are set to contribute more than $1.9 billion this financial year. Treasury figures indicate that the state received $483 million from property sales in the September quarter alone. The figures have led to renewed calls for adjustments in stamp duties as house prices continue to soar. However the Qld Treasurer, Terry Mackenroth, ruled out any changes to stamp duty thresholds and said Queenslanders already have some of Australia's cheapest rates.