Land tax around Australia
One of the biggest changes to land tax rates occurred in the June 2019 Queensland Budget with a notable change to the base threshold from $599,999 down to $349,999. This means those who have never paid land tax before, may now qualify. A quick reminder that we are 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 another $1,450 plus 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 Founder and CEO of The Property Frontline. She has more than 20 years' experience in buying property Australia-wide, and is skilled in helping buyers use a range of strategies including renovating, granny flats, sub-division and development. Debra is experienced in identifying tailored opportunities, homes and sourcing properties that have multiple uses. She is a Qualified Property Investment Advisor, licensed real estate agent and also holds a Bachelor of Commerce and Master of Business. As a passionate advocate for increasing transparency in the property and wealth industries, Debra is a popular speaker on these topics. She is also an author, podcast host, Editor in Chief of Property Portfolio Magazine and participates on numerous committees including the Property Owners' Association.
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Disclaimer – This information is of a general nature only and does not constitute professional advice. We strongly recommend you seek your own professional advice in relation to your particular circumstances.