Revenue Legislation Amendment Bill 2024

The Bill amends the:

• Duties Act 2001 to
  • provide full transfer (stamp) duty relief to eligible first home owners entering into eligible transactions to purchase a new home to live in or vacant land on which they will build a home to live in, from 1 May 2025
  • enable recipients of the transfer duty home concessions to rent part of their property during the 1-year occupation period and retain the full benefit of this relief, from 6 December 2024 (rent-a-room measure)
• Payroll Tax Act 1971 to introduce an exemption to wages paid by medical practices to general practitioners, from 1 December 2024 (payroll tax exemption measure).

The rent-a-room and payroll tax exemption measures will be provided under administrative arrangements, pending legislative amendment.

The Bill will be available on the Queensland Legislation website.