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ARTICLE · 23 JUNE 2008

Queensland Mortgage Duty Abolished

The Treasurer, Andrew Fraser, when handing down the 2008/2009 Queensland State Budget announced the abolition of Queensland mortgage duty effective 1 July 2008.

AustraliaReal Estate and Construction

The Treasurer, Andrew Fraser, when handing down the 2008/2009 Queensland State Budget announced the abolition of Queensland mortgage duty effective 1 July 2008.
The Revenue & Other Legislation Amendment Bill 2008 was introduced into the Queensland Parliament on 3 June and it provides:

1.

Mortgage duty is abolished for mortgages signed on or after 1 July 2008.

2.

Where a mortgage is signed before 1 July 2008 – mortgage duty is not payable on advances made on or after 1 July 2008.

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