A Quick Guide to Land Tax in Australia
Land tax in Australia is assessed and collected annually (quarterly in the ACT) based on the value of land, and is levied by all states and territories except the Northern Territory, which imposes a Property Activation Levy on Darwin CBD properties.
The taxing regimes are set on a state-by-state basis, and although broadly similar, they differ in matters of:
- the taxing date
- valuation methods
- the ownership entity (e.g. individual as opposed to corporate or trust ownership)
- tax rates and thresholds
Typically one principal place of residence is exempt from land tax, as are charities, other non-profit entities and disability trusts.
Land tax is generally assessed to the owner, based on ownership of the land within the state or territory at a point of time, the taxing date.
Land Tax Queensland
Tax on land in the state of Queensland.
News article: Land tax changes coming to Queensland in July 2023 – Holding Redlich
Warning: Queensland land tax rates to be based on Australia wide landholdings – McCullough Robertson
Qld land valuations
Queensland land tax website
Land Tax Northern Territory
Tax on land in the Northern Territory
NT Property Activation Levy – Territory Revenue Office
Further info – Land tax in Australia
NSW: New initiative for First Home Buyers As part of the 2022-23 Budget, the NSW Government announced that first home buyers purchasing properties up to $1.5 million will be provided the option to pay an annual property tax instead of transfer duty. See full article from NSW Revenue.
The wait is over: Victoria implements the new windfall gains tax regime – Corrs Chambers Westgarth
How Does Land Tax Apply to Discretionary Trusts? – Coleman Greig
This page was last modified 2022-08-05