Mr Dick said that, because this will likely result in the state's GST allocation being reduced, $2.5 billion is being set aside as a "buffer" and managed as a long-term asset — available to be drawn down to make up for any shortfall.
It also notes the emergence of any more severe and transmissable variants could hurt confidence and pose a big risk to global and local outlooks."It will be drawn down when needed, without further impacting the deficit," he said.Queensland will close a land tax "loophole" in a bid to address housing affordability, a move expected to rake in an estimated $20 million a year.
"But some interstate investors deliberately hold multi-state property portfolios to avoid reaching the land tax threshold in any single state. This means Queenslanders, with their entire landholding in this state, end up paying more tax than interstate investors and speculators," he said. "We modelled low-income, working families, so you'd have two adults, one working full-time and one working casually on a minimum wage, and what we found was you're actually running a significant weekly deficit, even with employment," she said.
Unsustainable 'houses and holes' economy. Big crash ahead.
Extreme weather kills & makes uninsurable property- what side of the balance sheet are we? 🏴☠️🔥
I thought they didn’t like coal
This is a disaster for renters. I have a home in NSW and a rental property in Qld. My NSW land value is $1.35 Mn and my Qld land value is $550k. My Qld land tax will go from zero to $5601 per year. And I pay land tax in NSW. I will be selling my Qld property.
Great sustainable factors right there...