Qld Land Tax: Qld has drastically changed the rules with land tax, and this change could affect quite a number of our clients.
If you have properties outside of Qld, the total land value for Qld land tax was only related to the properties within Qld. Well, that’s changed now, and it could lead to thousands of extra dollars in Qld state taxes, without giving any direct value to either you, your agent, or your tenant.
Moreover, if you are already paying land tax for your property in another state, Qld doesn’t care; they won’t give you a credit for any land tax paid to a different state. For some clients, with only one or two properties in Qld, it possibly won’t make any difference, but for other clients with more properties interstate, it could mean a world of financial pain.
Julia Hartman discussed the change in more detail below.
