Queensland Treasurer open to talks on first homeowner grant changes, but there’s a catch
2015-06-18
Queensland Treasurer Curtis Pitt with Real Estate Institute of Queensland CEO Antonia Mercorella in Coorparoo last night.
QUEENSLAND Treasurer Curtis Pitt has signalled the Labor Government was open to discussions over bringing existing housing back into the fold of the Great Start Grant.
“The first homeowner grant of $7000 was available for existing housing when it was introduced as a measure to compensate for the expected increase in the cost of housing following the introduction of the GST,” he told members of the Real Estate Institute of Queensland last night.
Mr Pitt said any changes to how the grant operated needed wider consultation.
“Certainly if we are intent on making changes to that space it wouldn’t be in this term of government but we will be consulting and ensuring that that is something that would be backed by all the major stakeholders, in terms of something that makes a difference, helps stimulate activity and of course helps contribute to our economy.”
The comments come just four weeks out from Mr Pitt’s first State Budget announcement since taking office in February.
Mr Pitt said there were views both ways about the merits of the first homeowner grant, but “certainly the residential building sector has been very supportive of the $15,000 Great Start Grant and the Labor Government is going to be continuing with this initiative”.
He also ruled out an end to stamp duty this term.
”This is a longstanding (REIQ) wish but it’s one that we can’t certainly at this stage look at, particularly given that we firstly don’t have the mandate to do that,” he said.
“Combined with payroll tax, transfer duty or stamp duty make up more than 50 per cent of state government revenue in terms of taxation. It is not something that you can just walk away from overnight.”
When asked about whether the next round of funding for the Toowoomba second range crossing would be included in the upcoming Budget, Mr Pitt said “the Budget’s not that far away, you’ll just have to wait for it”.
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