Land Tax in Queensland
Following is a chart with the Queensland Land Tax rates. For examples go to Queensland Treasury land tax. “Land tax is assessed on the taxable value of an owner’s total land-holdings.”
Rates for individuals (other than absentees, companies or trusts)
Taxable value
Rate of tax
$0–$599,999
$0
$600,000–$999,999
$500 plus 1 cent for each $ more than $600,000
$1,000,000–$2,999,999
$4,500 plus 1.65 cents for each $ more than $1,000,000
$3,000,000–$4,999,999
$37,500 plus 1.25 cents for each $ more than $3,000,000
$5,000,000 and over
$62,500 plus 1.75 cents for each $ more than $5,000,000
If you are a land holder there are very few exemptions to paying land tax which is calculated every 30 June in Queensland. The value that is taxable will be the total value of your land, less exemptions or deductions that you have claimed.
Other information which may be relevant to you is if a threshold applies to you and this can be researched here.
Filed Under: Property Websites • Tax Tips
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