Land Tax Queensland

Land tax on freehold land in the state of Qld.

Update 11 June 2019: Qld State Budget 2019-20: Announced measures to apply from 30 June 2019 taxing date:

  • Australian citizens and PR visa holders excluded from the absentees land tax measures
  • absentee surcharge rate increased from 1.5% to 2%
  • Increased rates for companies and trusts on higher-value landholdings (over $5,000,000)
  • Foreign corporations and trusts subject to land tax foreign surcharge of 2%

See further:

Update 12 June 2017: Qld State Budget 2017-18: From 1 July 2017 a 1.5% land tax surcharge will be applied to absentee payers of land tax on land holdings of $350,000 or higher.

Taxing time and date

Midnight, 30 June

Corporate entities and trusts

Companies, trustees and absentees are taxed at a higher rate, with a lower tax-free threshold.

Budget 2019-20 measures provide The Government will increase land tax rates for companies and trusts by 0.25 cents for each
dollar above $5 million in land holdings from 2019-20.

For determination of residence/absentee status for land tax assessment purposes, see the notes here.

Exemptions and concessions

Exemptions are available (all subject to specific conditions) for

  • principal place of residence (including individuals and trust beneficiaries but not absentees; includes transfers up to 12 months before 30 June)
  • primary production activities,
  • non-profits, clubs and charities,
  • caravan parks, aged care and supported living accommodation.

Land tax rates – individuals

The taxable value for a financial year is the lesser of the value on the taxing date or the average of the current year plus the past 2 years. Values are determined by the Valuer-General, notified in an annual land valuation notice.

Land tax rates for resident /non-absentee individuals
FromToRate
$0$599,999nil
$600,000$999,999$500 plus 1.0% of the excess over $600,000
$1,000,000$2,999,999$4,500 plus 1.65% of the excess over $1,000,000
$3,000,000$4,999,000$37,500 plus 1.25% of the excess over $3,000,000
$5,000,000$9,999,999$62,500 plus 1.75% of the excess over $5,000,000
$10,000,000 and over$150,000 plus 2.25% of the excess over $10,000,000

[suffusion-widgets id=’5′]

Companies, trustees tax rates

Rates for companies, trustees from 30 June 2019 taxing date
FromToRate before absentee surcharge
$0$349,999nil
$350,000$2,249,999$1,450 plus 1.7% of the excess over $350,000
$2,250,000$4,999,999$33,750 plus 1.5% of the excess over $2,250,000
$5,000,000$9,999,999$75,000 plus 2.25% of the excess over $2,250,000
$10,000,000 and over$187,500 plus 2.75% of the excess over $10,000,000

 

Rates for companies, trustees to 30 June 2019
FromToRate before absentee surcharge
$0$349,999nil
$350,000$2,249,999$1,450 plus 1.7% of the excess over $350,000
$2,250,000$4,999,999$33,750 plus 1.5% of the excess over $2,250,000
$5,000,000 and over$75,000 plus 2.0% of the excess over $5,000,000

Absentees surcharge

An absentee individual is a person who does not ordinarily reside in Australia.

From 1 July 2017 to 30 June 2019 a 1.5%* land tax surcharge applies to absentee payers of land tax on land holdings of $350,000 or higher in addition to the following land tax rates. Absentee surcharge is payable on the excess value over $350,000.

*Update 2019-20 Budget:

  • The land tax absentee surcharge rate is to increase from from 1.5% to 2.0% from 2019-20.
  • The surcharge will be widened to include foreign corporations and trusts.
  • From 30 June 2019, Australian citizens and Australian permanent residents holding permanent visas living, working or travelling overseas for an
    extended period will no longer be assessed as absentees.

Objections

A land tax assessment objection must be lodged 60 days of the date of issue of the assessment notice, which is extendable with the Commissioner’s approval. See Lodging an objection.

More detailed information

.
This page was last modified 2019-08-30