War on real estate red tape in Queensland

War on real estate red tape in Queensland

Posted on Wednesday, April 11 2012 at 9:28 AM

The new Queensland Government will work to cut real estate red tape as a matter of priority, it was announced yesterday.

Premier Campbell Newman held the first meeting of his Cabinet in Brisbane on Tuesday, where the state’s property industry was a topic of discussion.

As part of sweeping changes, homebuyers will once again be eligible for a stamp duty concession of up to $7000, Newman said.

The principal place of residence stamp duty concession, abolished as part of the 2011-12 State Budget, will be reinstated from July 1.

The government also flagged streamlining home sale contracts and confirmed it will introduce legislation to scrap sustainability declaration forms.

The mandatory forms were introduced in 2010 as a way of combating climate change by detailing a property’s green credentials at the point of sale, but the move has been heavily criticised by the real estate industry.

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