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Victoria to stimulate property market with tax breaks, public housing

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The Andrews government is pouring $6 billion into housing initiatives and planning changes it hopes will create jobs, kick-start economic activity, and help more Victorians into secure homes.

The government will waive up to 50 per cent of stamp duty on homes worth up to $1 million – up from the previous $750,000 threshold – for the remainder of this financial year, as part of a range of policies under its 2020-21 budget that Treasurer Tim Pallas hopes would “encourage Victorians back into the property market”.

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Hannah Wootton is a Rear Window columnist, based in Melbourne. Connect with Hannah on Twitter. Email Hannah at hannah.wootton@afr.com

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    Original URL: https://www.afr.com/politics/federal/victoria-to-stimulate-property-market-with-tax-breaks-public-housing-20201124-p56hbr