Queensland government cancel land tax changes

Queensland government cancel land tax changes

The Queensland government has binned its plans for a land tax aimed at interstate and expat property investors. Interstate investors were due to pay land tax on the total value of properties held around the country, not just in Queensland. The Premier, Ms Palaszczuk announced she would now scrap the proposed land tax changes.

The new land tax was met with wide criticism and outright resistance the industry. Other states even promised they would refuse to pass on property holding information on their residents, with Queensland. This would make it difficult for Queensland to properly calculate whether there were land tax concessions or not in relation to land tax charges.

The Queensland government’s decision to cancel the land tax change, has been widely welcomed by investors and the industry. The tax would have raised approximately $20 million a year in revenue to the state. Good to see common sense wins out in the end!

Hi, I’m Kirstie Penton and I’m your local hfinance mortgage broker, servicing the whole of the Gold Coast area. I have lived on the Gold Coast for the last 25 years.

Call me today and we can have a coffee and a chat about your finance needs. Contact by calling on 1300 928 227 or email kirstie@hfinance.com.au.

hfinance is a mortgage brokering business, to speak with a Sydney Mortgage Broker, Gold Coast Mortgage Broker or an Australian expat mortgage broker. Contact by calling us on 1300 928 227 or email info@hfinance.com.au. You can also book a meeting directly below.