Overview
- The proposal begins with immediate removal of stamp duty for first-home buyers purchasing existing homes valued up to $1 million.
- After five years, the opposition says it would start adjusting stamp duty brackets, with full abolition targeted within 15 years.
- Vincent Tarzia says stamp duties raise about $1.6 billion a year and he rules out introducing new taxes to replace that revenue.
- Premier Peter Malinauskas condemns the policy as reckless, citing billions in forgone revenue and arguing it would not add housing supply.
- Treasurer Tom Koutsantonis warns services would face pressure without replacement income, while the Liberals say detailed costings will come before the March 2026 election.