First home buyers in the ACT will no longer have to pay stamp duty, the territory government will reveal, as it hands down a budget mired in debt.
Housing is central to Treasurer Chris Steel's second budget, to be unveiled on Wednesday.
The latest milestone in ACT Labor's long-term project to abolish stamp duty in favour of higher property rates will extend the exemption to all first home buyers from July 1.
Currently, only homes under $1 million are exempt and purchasers must be below income eligibility thresholds.
The ACT will become the first jurisdiction in Australia to fully abolish stamp duty for people entering the property market.
"The elimination of stamp duty for first home buyers compliments the federal government's tax reforms by supporting younger generations of Canberrans to own their own home," Mr Steel said.
