iscoverThe Queensland premier has dropped the land tax revisions that calculate liability by including holdings in other states.
Palaszczuk dumps controversial land tax
30 September 2022
•
5 minute read
Queensland Premier Annastacia Palaszczuk has moved to ditch the state's controversial land tax after weeks of negative publicity and refusals by other premiers to co-operate.
The tax, which was due to start next year, would calculate an owner’s liability for land tax based on the total value of their Australia-wide holdings that are not exempt, not just those in Queensland.
You’re out of free articles for this month
To continue reading the rest of this article, please log in.
Create free account to get unlimited news articles and more!
It was expected to affect approximately 10,000 investors and recoup the Queensland government almost $20 million a year from 2023–24.
However, the tax met a wall of negative comment from investors and NSW Premier Mr Perrottet said he would refuse to provide home owner information to the Queensland government.
“This is a tax implemented by a state that impacts the residents of NSW. It’s wrong, and we’re not going to comply with it,” the Premier said.
The tax was known to be turning investors away from Queensland and professional bodies, including CPA Australia, called it a "revenue grab".
Ms Palaszczuk is in Canberra for a national cabinet meeting but a spokesperson for Queensland Treasurer Cameron Dick confirmed the land tax changes had been dumped.
“The Treasurer stands by everything he’s said about land tax, but of course he accepts the decision the Premier has made after talking to other leaders,” said the spokesperson.
You need to be a member to post comments. Become a member for free today!
