Land tax around Australia

Yes. I can hear you complaining. How boring is land tax? Well you will find it intensely interesting if you understand the thresholds and consider the implications when making your next property purchase.

Outlined below are land tax thresholds for each State and Territory. Of course, you will need to obtain advice from your accountant about your specific situation and discuss the thresholds when considering your next property purchase.

Note that the thresholds listed below are for individuals unless otherwise stated and normally excludes your principal place of residence.

Big changes

While land tax rates used to be slightly adjusted each 1-2 years in most states and territories, the latest news is the shocking tax hikes introduced by Victoria commencing from 1 July 2024. The ACT has also made some radical changes, but the increases introduced in Victoria have been so huge it will mean people owning property between $1.5M to $3M could be paying more than $40,000 in land tax.

Another major change occurred in the June 2019 Queensland Budget with a notable adjustment to the base threshold from $599,999 down to $349,999. This means those who have never paid land tax before, would now qualify.

A quick reminder that we're talking about land value as opposed to the full 'bank' value of your property, so take a deep breath before you call your accountant to check if you now have to find a few extra thousand to cover taxes from here on.

In the past 12 months changes have been made to land tax financial thresholds in Queensland, New South Wales, Victoria, the Australian Capital Territory, Tasmania and South Australia, while no changes were made to Western Australia.

There is no land tax in the Northern Territory.

Author: Debra Beck-Mewing

Debra Beck-Mewing is the CEO of The Property Frontline and Editor of Property Portfolio Magazine. With over 20 years of experience buying property across Australia, Debra is a skilled property strategist and buyers agent known for uncovering tailored opportunities — from family homes to multi-use investments.