Queensland Scraps Land Tax Changes

The government of Queensland scrapped the proposal to change the Queensland land tax arrangements, set to be effective on 30 June 2022.

It was dumped after Premier of Queensland, Annastacia Palaszczuk, did not get support from other states.

The proposal had new measures that will affect small to medium sized businesses, and even those with multi‑jurisdictional landholdings in Queensland.

This means land tax will be calculated on the entity’s total Australian landholding using the present Queensland thresholds and land tax rates. The proportion of the Queensland land value bearing the total Australian land value will then be taxed.

The decision was expected

qld land tax

Premier Palaszczuk discussed the proposal with her fellow premiers in the National Cabinet meeting in Canberra. Other premiers did not fully support the proposal, and as such, the Queensland’s Premier decided to shelve the proposed changes on Queensland Land Tax last 30 September 2022.

Peter White, Managing Director of Finance Brokers Association of Australia (FBAA), expressed that he was not surprised at the result. Aside from this, the proposal drew many negative responses from people in different states. Many people are pleased with the decision, and think that this is the appropriate action towards the proposal.

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