Land tax is an annual tax that's calculated by adding up the taxable value of the freehold land you own in Queensland on June 30.
There are different rates according to the total value and the type of owner you are, Queensland Treasury says.If you're an individual and the total taxable value of your land is $600,000 or more, you're liable for land tax. If you reach that threshold for the first time, the government will send you a letter containing "information on land tax, available exemptions, and how to apply".A Queensland Treasury spokesman says that as land values "increase, more landowners may reach the $600,000 threshold – and receive a letter about land tax – however many of these landowners will be eligible to claim an exemption on their home".
Based on previous years, about 60 per cent of those are "expected to be granted a principal place of residence exemption", a spokesman says.According to the Queensland government website, you have to apply for an exemption through the Queensland Revenue Office. Once that's been approved, that exemption will continue to apply while you meet all the requirements – meaning you don't have to lodge an application every year, unless you move address.
Move to NSW.
Always the left wing placing taxes on taxes.
. now in the tax avoidance business? Guess you have to do something now that you've exited the news business.
I found it a bit of an exercise in hoop jumping. Submit, verify, resubmit, verify, verify, questionnaire etc etc Also wondering how much data about property owners this provides that gov previously didn't have?
Sick of f*cking Australia bleeding it's citizens dry. Tax this, tax that, pay for something, and get taxed, then get taxed again, ongoing... ...yet government services lack ALWAYS. Lucky country my A55. Should be spelt C-U-N-T-R-Y.