By Info News Mk 
South Australia is set to become the first state in the country to fully abolish stamp duty for eligible downsizers, following a major election pledge unveiled by the state government.
Premier Peter Malinauskas has announced that, if re-elected, a Labor government would eliminate stamp duty for South Australians aged 60 and over who sell their existing family home and purchase a newly built or off-the-plan property valued at up to $2 million.
Framed as both a housing supply initiative and a cost-of-living measure, the proposal would allow eligible buyers to save up to $103,830 in stamp duty — a substantial increase on the $15,000 concession proposed by the state opposition.
The full exemption would apply to buyers aged 60 or older who purchase a smaller home as their principal place of residence and sell their existing property. The concession would be available on a one-off basis only.
“Our plan to abolish stamp duty for downsizers is carefully designed to boost housing supply while freeing up larger homes for families,” Mr Malinauskas said.
“By removing stamp duty, we are providing a genuine incentive for older South Australians to downsize.
“Under our plan, seniors could save more than $100,000, compared with $15,000 under the Liberals.”
Under the proposed scheme, someone purchasing a newly built home worth $1 million after selling a larger residence would receive a concession of $48,830. The savings would increase to $76,330 on a $1.5 million purchase and up to $103,830 on a $2 million property.
The announcement came as South Australia formally entered caretaker mode ahead of the 21 March state election, with Mr Malinauskas and Deputy Premier Kyam Maher visiting Government House to officially launch the election campaign.