The Victorian Liberal Party has made stamp duty promises as Labor commits to help veterans

Opposition leader Matthew Guy has pledged to help first home buyers if elected, while Dan Andrews has promised measures to help veterans.

Cassidy Neubauer and Ben Rigoni could benefit from the Liberals’ promise to extend the threshold of no stamp duty for first home buyers. Picture: David Crosling

First home buyers will get stamp duty worth up to $55,000 cut from the cost of homes valued at $1m or less, if the Liberal party is elected on November 26.

First home buyers are already exempt from stamp duty on homes costing less than $600,000, but the $260m Coalition plan announced on Sunday extends this price threshold to properties worth up to $1m.

The promise came as Labor pledged to help veterans manage the rising cost of living by providing $100 discounts on car registrations, as well as free trailer and caravan registrations.

Veterans would be able to obtain free fishing and boating licences in a bid to encourage outdoor recreation.

And they would also receive free public transport on Anzac and Remembrance days under the $37m scheme, which was lauded by an RSL leader as “fantastic”.

Victorian Premier Daniel Andrews promises help for veterans at the Noble Park RSL. Picture: Luis Enrique Ascui

“We think it will benefit many, many Victorians,” Noble Park RSL president John Meehan said.

“We’ve had no real initiatives (like this) come from the other side at this stage.”

Opposition leader Matthew Guy said his party’s stamp duty promise was aimed at helping Victorians buy their own homes instead of long term renting.

“It’s time to encourage younger people in particular to get into home ownership, to appreciate the value of home ownership,” Mr Guy said.

The scheme would be reassessed after 12 months, he said.

According to the Real Estate Institute of Victoria, the median sale price of homes in metropolitan Melbourne was $993,000 in September this year.

While Mr Guy’s pledges were for first home buyers, Premier Daniel Andrews were for veterans.

The Premier committed cost of living relief for Victorian veterans if re-elected, declaring he would introduce an Australian-first, state-issued veterans card, which would also be made available to young returned soldiers.

Veterans aged under 70 years old are currently not eligible for the federal government’s gold veteran card, cutting them out of special entitlements.

A national-first, state-issued veterans card will be offered. Picture: Luis Enrique Ascui

“This is a way in which we can thank those who have served our nation, those who are the best of us, to help them with the cost of living,” Mr Andrews said.

“We’re very proud of them. We’re very grateful to them. All the things that we enjoy today is because of them and their sacrifice and their service.

“Veterans who are under 70 and don’t get the Commonwealth concessions will be able to get a state-based ‘thank you’.”

The card – which will be available from mid-2023 – will also grant veterans access to employment programs to help them establish careers after finishing their period of service, and the Premier did not rule out adding further benefits.

“If we are successful, that gives you a platform to add to it and there may be other things that we can do, other concessions or discounts or other benefits that we can provide,” he said.

“Because it’s not just important to say thank you once, you’ve got to keep saying thank you because these men and women have given so much and we’re proud of them and we’re deeply grateful to them.”