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Queensland government slugs interstate property investors with 'new land tax'

The Queensland government has announced a property tax hike targeting investors from interstate, in a move that’s angered the real estate sector.

Treasurer Cameron Dick delivered the state’s mid-year budget update on Thursday, including an unexpected cash grab that will draw tens of millions of dollars from landlords.

Until now, interstate investors with real estate assets across multiple states were able to use tax-free or discounted thresholds in each state and territory.

 

The Queensland government proposal would consider the value of an investor’s real estate assets outside of Queensland to determine a land tax bill for their local investments.

To read the whole story, follow the link below

https://www.realestate.com.au/news/queensland-government-slugs-interstate-property-investors-with-new-land-tax/?rsf=ps%3Afacebook%3Anews%3Apc&fbclid=IwAR38JPAqEtOHjs7UEg-zAzs7EhDM6gRTivkLNqvGON0hemM5qqoFXN7qhIc