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Benita Kolovos
The Victorian government will expand its stamp duty concessions for off-the-planning properties with another 12 months as part of next week’s state budget.
The prime minister, Jacinta AllanWill announce $ 61 million today to continue the concessions for off-the-plan apartments, mansions and units until October 2026.
Announced for the first time last year, the concession applies to new properties for each price and is open to all buyers, including investors. Instead of base the stamp rights on the final selling price, it is calculated on the land value prior to construction.
For a new apartment of $ 620,000 off-the-plan, that can mean a stamp-law invoice of $ 4,000 saving the buyer $ 28,000.
According to the government, buyers have saved on average $ 24,517 since the concession came into force.
Allan said in a statement:
Young people cannot afford houses in a home crisis and I stand by their side. That is why we cut the stamp rights for off-the-plan units and mansions to build more houses and make them cheaper to buy.
The treasurer, Jaclyn Symessaid the extension responds to feedback from the industry:
This is not only great news for home buyers trying to get to the market. It is also a huge victory for house builders.
The budget will also include $ 24 million to develop the 50 proposed activity centers in the inner and middle suburbs of Melbourne, while $ 12.1 million will be spent on planning 13,200 new houses in growth areas, including Clyde South and Derrimut Fields in Melbourne’s Outer Suburbs.
Hello, this is Josh Taylor Take the live blog for this morning.
As an experienced pilot who has learned her trade in Queensland’s outback, Sussan Ley is metaphorically better equipped than anyone in the liberal party to restore a course from the edge of the political wilderness to the middle of the middle.
Her rise to the front line of politics After her victory in the election of the Liberal Party Hall, yesterday lifted the lid on a varied CV whose aviation skills are only one part. She can also brag about stints such as station cook and accountant, not to mention the parenting of three children on the road.
Tom Mcilroy profiles the first female leader of the Liberal.
The views of economists about Trump Tarriff Chaos on our markets
As mentioned above, there are serious concerns among market analysts who will cause chaos unleashed by Donald Trump problems for Australia.
Jenny GordonAn honorary doctorate at the Anu and a former chief economist at the Ministry of Foreign Affairs and Trade, our reporter told that there was no end to the uncertainty of the market.
Gordon said that the experience of the UK and China showed that countries did not come to the White House as applicants.
“I think the only thing that has changed is that the world pushes back against this idea that there would be countries that come to the US and offer things,” she said.
“And part of it is that the Americans do not know what they want. The Japanese asked the Americans to tell us what you want ‘, and the answer was’ tell us what to give’.
“Certainly, countries don’t come to bent knees.”
Read the whole story here:
There is separately ensure that the pressure of the US president of medicine companies could increase the costs of the pharmaceutical benefits of Australia whether companies can see some medicines pulling from the Australian boards.
Albanese goes to Indonesia
Global tensions and the development relationship of Indonesia with China and Russia will probably be in the agenda when Anthony Albanese Makes his first overseas trip of his second term, reports Australian Associated Press.
The prime minister will travel to Jakarta today, where he will meet the Indonesian president, Pabowo Subianto.
Pabowo released a video of his conversation with Albanians after his pounding election profit and said that he was “so happy” to see him win another time. The prime minister told the Indonesian president that he wanted Jakarta his first visit – not Washington or Beijing.
The first state visit to Indonesia continued an inheritance set up by the government of Howard, which was symbolic in projecting Australia’s identity as close to Asia, the senior analyst of the Australian Strategic Policy Institute, Gatra Priyandita, said.
“Albanian is interested in maintaining that image of Australia as independent of the United States and close to the region,” he said Aap.
“There is a great interest in the development relationship of Indonesia with both Russia and China, in which Indonesia recently set up some of its first navy exercises with Russia, so it will probably be discussed.”
Reports in April that Moscow was looking for permission from Jakarta for Russian space trips aircraft that are alerted in Indonesia. Indonesian authorities reassured their Australian counterparts who would not be the case, but did not confirm whether the request had been made.
The prime minister went back to a promise to attend the inauguration of Prabowo in October 2024 because of a visit to Australia through King Charles.
Dr. Gatra said his concern was that this new visit to Jakarta would be pure symbolic. “I didn’t hear much in the context of practical results,” he said.
“It is very important for Australia and Indonesia to think about strategic cooperation … Especially since both Albanians and Pabowo will probably have been counterparts for some time.”
Catie McLeod
Child killed and three injured in NSW Road Collision
A child died and three people were injured in a collision between a UTE and a truck on the New South Wales South Coast, the state of the state said.
Last night the police said that the emergency services had been called to Towamba Road in Nullica near Eden yesterday at about 4.10 pm, where they found a six-year-old boy who had traveled in the Dual Cab Ute on the spot.
The driver, a man in his thirty, and a three -year -old girl, who was a passenger in the Ute, suffered several injuries to the hospital from the airport of Merimbula, the police said.
A third passenger in the Ute, an eight -year -old girl, was brought to the southeastern regional hospital in Bega, the police said.
The police said that the driver of the truck, which is assumed to be in the fifty years old, had been taken to the same hospital in Bega for mandatory tests and being treated for the consequences of shock. The police said that the police of the Southern Region Crash Investigation Investigation Unit would investigate the scene of the Collison.
Towamba Road was expected to be closed for part of the night when the investigation began.
Welcome
Good morning and welcome to our live news blog. I am Martin Farrer With the top overnight stories before your regular blogger takes over the reins.
Yesterday Jim Chalmers Said policy uncertainty means that Australia stands for much economic uncertainty. Today we report how significance between the US and China about trade are good news for the China-dependent economy of Australia, many markt experts think that the chaos created by Donald Trump is worse than the rate of 10%”. As a result, the ASX200 may be set to open around 0.5% when it will be opened later this morning. We will have more when it happens.
Anthony Albanese Will make his first overseas visit since he wins the elections when he leaves for Indonesia today. The prime minister will travel to Jakarta, where he will meet the Indonesian president, Pabowo Subianto. The summit follows reports during the election campaign that Moscow was looking for permission from Jakarta for Russian spacecraft aircraft in Indonesia, which causes an alarm in Canberra.
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