Queensland Government Faces Pressure Over Land Tax Reform Amidst Property Owner Demands

The Queensland government is grappling with demands from property owners for reduced land tax, as revealed by Treasury analysis estimating a hefty $1 billion annual cost to taxpayers.

The Property Owners Association is advocating for a significant 200% increase in the tax-free threshold, while the Real Estate Institute of Queensland (REIQ) is pushing for thresholds to be indexed to inflation.

Despite only affecting 0.9% of Queensland’s population, primarily those with multiple investment properties, land tax remains a contentious issue. Both associations are urging the government to reconsider its land tax policies, citing substantial property value increases in recent years.

As pressure mounts, the government faces the challenge of balancing the demands of property owners with the broader fiscal responsibilities to taxpayers.

Read More

Article Title: Queensland Treasury rejects landlord tax break proposal, saying it provides critical revenue
Retrieved from abc.net.au
Get a Free Consultation

Get a Free Consultation

Drop your details in below and we will be in touch to make a time that suits you best! 

    Leave a Reply

    Your email address will not be published. Required fields are marked *