Queensland Numbered Acts

REVENUE LEGISLATION AMENDMENT ACT 2025 - SECT 12

12 Amendment of s 92 (Concession—first home)

(1) Section 92 , heading—
omit, insert—

92 Concession—first home other than new home—residential land

(2) Section 92 (1) (a) , ‘or vacant land’—
omit.

(3) Section 92 (1) , after paragraph (a) —
insert—

(aa) the residence is not a new home; and

(4) Section 92 (1) (c) —
omit, insert—

(c) either—

(i) the unencumbered value of the residential land is not more than $700,000; or

(ii) if the unencumbered value of the residential land is more than the amount stated in subparagraph (i), the consideration for the dutiable transaction is at least the unencumbered value of the land.

(5) Section 92 (2) —
omit, insert—

(2) The transfer duty imposed on the dutiable transaction is the amount of transfer duty worked out under section 91 less the concession amount stated in schedule 4A.

(6) Section 92 (3) , ‘for land’—
omit.

(7) Section 92 (4) —
omit.