Monday, 16 January 2012

QLD GRANT $10000 extended to 30 April 2012 for building anything in QLD that is a dwelling
Yes thats right the $10000 building anything bonus is extended to 30 April 2012

State revenue reforms and new building boost

The 2011-12 Budget includes major revenue reforms and assistance packages, including a $10,000 Building Boost Grant for people building or buying new homes and the removal of the $113 levy for Community Ambulance Cover from electricity bills. Find out more about the reforms below.


$10,000 Queensland Building Boost Grant

Available for a limited time only – 1 August 2011 to 30 April 2012
The $10,000 Queensland Building Boost Grant is available to any person or corporation buying or building a new home to live in, or to rent out for investment purposes, for homes less than $600,000.
The Building Boost Grant is designed to re-ignite Queensland’s housing construction sector following a combination of falling property transfers and the economic impact of a summer of natural disasters.

$7,000 First Home Owner Grant

Continuing and available now
The $7,000 First Home Owner Grant was created to help you buy or build your first home. The grant applies to first home buyers purchasing a home with a value less than $750,000.

Transfer duty

Home Concession

Closes 31 July 2011
The Home Concession for transfer duty will end on 31 July 2011. This is the transfer duty concession that people who are not first home buyers receive when buying a home to live in as their principal place of residence. If you are considering buying a home you should carefully consider the transfer duty reforms to help you make an informed decision about the timing of your purchase.

New transfer duty rates

Commence from 1 August 2011
The transfer duty rate structure will be revised to ensure transfer duty payable on a home remains lower in Queensland than under the standard rate in any other mainland state of Australia. If you are considering buying a home you should carefully consider the transfer duty reforms to help you make an informed decision about the timing of your purchase.

First Home Concession and Vacant Land Concession

Continuing but changing from 1 August 2011
First home buyers will continue to receive a First Home Concession on their transfer duty costs. This includes first home buyers purchasing blocks of residential land to build on.
The concession rates have been adjusted to take into account the removal of the Home Concession.

Other revenue changes

Community Ambulance Cover levy removed from electricity accounts

No longer charged after 1 July 2011
Queenslanders will not be required to pay the $113 Community Ambulance Cover levy from 2011-12. The levy will be progressively removed from Queensland electricity accounts from 1 July 2011.
On your next electricity account/s you will only pay the levy for the number of days in the account period up to and including 30 June 2011.

Land tax – 50% cap on the annual increase in land values

The 50% cap on the annual increase in land values for land tax purposes will continue to apply for 2011-12 land tax assessments.

Landholder duty

Applies from 1 July 2011
Landholder duty replaces Queensland’s land rich duty. It will apply to the acquisition of 50% or more of an unlisted company or 90% or more of a listed company or listed unit trust holding land in Queensland worth $2 million or more.

Payroll tax – 25% payroll tax rebate for wages paid to apprentices and trainees

The payroll tax rebate of 25% of the eligible wages of apprentices and trainees has been extended to the 2011-2012 financial year.

Revenue administration change

Applies from 1 July 2011
As part of the Government’s move to centralise revenue collection, responsibility for mineral and petroleum royalty administration will transfer from the Department of Employment, Economic Development and Industry to the Office of State Revenue in Queensland Treasury. Revenue collection will also change from quarterly to monthly collections in 2012, with implementation to be undertaken in consultation with the mining industry.

Further information

For further information on the Queensland Building Boost Grant and revenue reforms, please call 1300 300 734 (during business hours) or email