Queensland and Victoria resist push to replace stamp duty with land taxes

Victoria and Queensland have resisted calls to replace stamp duty with a New South Wales-style annual tax for first home buyers. Photograph: William West/AFP/Getty Images

Queensland and Victoria have no plans to replace stamp duty with a New South Wales-style annual tax, despite experts saying a change in policy would help more young people buy their own homes sooner.

From this week, first home buyers in NSW can choose between paying stamp duty or an annual land tax on properties up to $1.5m.