Queensland has confirmed will it abolish mortgage duty. (Queensland Budget)
It will be a two-step process: a 50 per cent reduction on 1January, 2008 and the remaining 50 per cent by 1 January, 2009.
Currently Victoria, ACT and NT have no mortgage duty.
Tasmania will abolish mortgage duty on 1 July, 2008.
Western Australia halved its mortgage duty rate on 1 July 2006 and will abolish mortgage duty on 1 July 2008.
NSW will halve it from 1 January 2010 and abolish it from 1 January 2011.
Australia will reduce it by a third each year from 1 July 2007, abolishing it totally from 1 July 2009.