First home-owner cap and ‘top-hatting’ relief introduced into Parliament
Source: Queensland. Treasurer and Minister for Employment and Economic Development. Media Release
"Treasurer Andrew Fraser has introduced legislation into the Parliament that will cap the State Government’s $7,000 First-Home Owner’s grant to homes worth up to $750,000.
Mr Fraser said the current cap of $1 million has applied since the start of the new year, but this legislation would restrict it further from 31 March. “First-Home buyers who can afford a house between $750,000 and $1 million don’t need a $7,000 state government hand-out,” Mr Fraser said. The introduction of the legislation will target the grants to those who need it most.
“This Government led the nation on introducing an initial cap, and from 31 March we will take that even further.”