Cost Of Living Relief For Queenslanders

Residents of Queensland may soon find it easier to buy a home or start a business in the area, due to a range of measures announced by the state government.

The Cost of Living Bill passed through parliament Tuesday night (June 19) and covers a number of key election commitments.

This includes the reinstatement of the transfer duty home concession - which will save property buyers up to $7,000 beginning July 1.

It will also abolish sustainability declarations when selling houses, supporting more efficient real estate transactions.

Treasurer Tim Nicholls said the bill was introduced shortly after the election "and shows just how committed we are to reducing cost of living pressure for families and providing relief for small businesses".

The bill will also introduce an Office of Best Practice Regulation to cut unnecessary red tape, freeze the standard electricity tariff (Tariff 11) - which will save families an average of $120 - and increase the payroll tax exemption for businesses from $1 million to $1.1 million.

"Businesses will also benefit from our commitment to slash red tape by 20 per cent," said Mr Nicholls.