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 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.

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.

Subscribe to Buyer Insider for early access to our tips and market updates