Do you own interstate land?
If you own, or have an interest or share in, property in another state or territory, it may affect how much land/tax you pay in Queensland because the Queensland Government has made changes to how land tax will be calculated.
From 30 June 2023, when working out your Queensland land tax liability, the Queensland government will consider all the land you own in Australia. So, you need to declare any landholdings you own outside of Queensland. You can get ready now by reading about the changes to land tax.
From 1 January 2023 you will be able to use your QRO Online account to tell the Qld Government about your interstate land.
The total value of your Australian land will be used to determine:
- whether the tax-free threshold has been exceeded
- the rate of land tax that will be applied to the Qld proportion of the value of your landholdings.
The current tax-free thresholds are $600,000 for individuals (other than absentees) and $350,000 for companies, trustees and absentees.
Tax is 'only' paid on the land you own in Queensland (ie the Government says it's not taxing your land outside Queensland).
