Mortgage duty in Australia

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.

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