LNP Member for Toowoomba North Trevor Watts said the dream of owning a home just got a bit harder with new taxes and grant cuts adding about $8000 to the bottom line.
Mr Watts said Labor Treasurer Jackie Trad cut the First Home Owners’ Grant from $20,000 to $15,000 in last week’s State Budget.
“Ripping away $5000 from potential new home owners is not what Queenslanders need to deal with right now,” Mr Watts said.
“Labor’s new waste tax and an increase to land taxes will also add about $3000 to cost of building a home.
“That’s effectively $8000 added to the cost of Queenslanders owning their first home, and at a time when housing affordability is a major concern.
“Annastacia Palaszczuk broke promises in this Labor budget and she’s breaking the dreams of Queenslanders looking to own their first home.
“Labor promised four new taxes to raise $492 million just before the last election, but instead introduced five new taxes in the Budget that will rip $2.2 billion out of Queensland’s economy.”
Mr Watts said the Australian Bureau of Statistics’ latest housing finance data showed home loan approvals in Australia had fallen to an 18-month low.
Property Council Queensland Executive Director, Chris Mountford: “The tax increases locked in by the Budget will increase the cost of housing for Queenslanders, increase rents for Queensland businesses, and reduce the amount of offshore investment in the state, which will ultimately translate to fewer jobs for Queenslanders.”