Leading audit, tax and advisory firm BDO has labelled the Palaszczuk government’s second budget “beige” and safe, and has questioned the decision to slug foreign property investors with a 3% stamp duty.

BDO Tax Partner Leisa Rafter questioned the worthiness of the new 3% stamp duty surcharge for foreign buyers of Queensland residential property, arguing the money raised does not justify deterring foreign real estate investors.

“This measure is projected to raise $15 million within the first financial year and we query whether this revenue will be worthwhile to overcome the disincentive to foreign residential investment,” she said.

BDO Corporate Finance Partner Reece Edwards said the $2 billion being put towards funding Queensland’s immediate infrastructure priorities was a good move.

“We note that of that $2 billion, around $1.5 billion is to be guided by the pipeline of projects identified by Building Queensland,” Edwards said.

“Providing funding certainty for projects in the pipeline that meets Building Queensland’s rigorous business case economic criteria will increase confidence in the infrastructure sector and provide a boost to economic productivity in Queensland,” he said.

In other moves, BDO said it supported greater scrutiny of not-for-profit organizations and the additional $225 million committed to innovation, but lamented to lost opportunity to abolish duties on the transfer of business assets.