Yet another tax for property owners


Is the Queensland Government in overreach in attacking property investors?

One would think so based on their latest attempt to increase property-related taxes.


The Queensland Revenue Office has introduced legislation that from 30 June 2023, will calculate land tax, using the total value of your Australian land.

This includes your taxable land in Queensland as well as any relevant interstate land you own.

Prior to the changes, land tax in Queensland has been calculated on the value of landholdings owned within Queensland only if the value of those landholdings exceeds the tax-free threshold ($600,000 for individuals other than absentees and $350,000 for companies, trustees, and absentees).

However, under the new framework, land tax will now be calculated on the total value of all land owned by that taxpayer throughout Australia.

Now if you only own land in Queensland you will not be affected by this change, but if you own land in Queensland and in another state or territory, you will need to declare your interstate landholdings.

And these changes apply to individuals, trusts, and companies and are a significant change in the Australian land tax regime.

Apparently, it’s a response to missing out on what would be a revenue source had the Queensland property owner purchased Queensland land and therefore also added to Queensland stock.

The Government argues that the land tax is in substitution for the land tax that would have applied if the land was located in Queensland.


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