Qld Government holts changes to Land Tax
The Queensland Government had planned to make changes to their Land Tax law but have advised that the changes are not being implemented at the moment.
The proposed changes were designed to simplify calculating land tax but they have not been received well. Some detractors even hint that the changes are ill-conceived and contain clauses which are problematical and infringe on individual rights and liberties.
Opposition to the proposed changes seem to have brought the proceedings to halt in the mean time.
Land tax is calculated on unimproved land over the untaxable value of $600,000 owned by each person. There are some exemptions to this tax being levied, but it would be a good idea to talk to your accountant if you feel you may be exempt any tax.
Filed Under: Property News
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