A BRIEF SUMMARY OF WHAT HAS HAPPENED TO AUSSIES OWNING PROPERTY IN QUEENSLAND - NO LAUGHING MATTER.

In the 2017 Queensland Labor State Government budget, Treasurer at the time, Curtis Pitt announced changes to the Land Tax Act (QLD) which in effect made the following changes for property owners in Queensland who are absent from Australia for 6 months of a financial year:
Lower land value threshold (instead of $600,000 it is now $350,000) +
Higher rate of land tax payable (corporate rate) +
Absentee land tax surcharge (1.5% of incremental land value)
The Devil was in the details, which Pitt did not accurately disclose. Furthermore the media tended to focus on this only impacting Foreign Investors. As a result Australian citizens caught up in this punitive set of taxes were largely overseen and not mentioned.

The fallout of these new changes are now being felt with people suffering from financial strains due to the massive penalties being applied. This is affecting people's mental and physical health.

Examples of how this new legislation affects people
:
* Expat Australians living and working overseas - whether that be temporary or permanently (unless they are exempt - approved Government job or for approved company no more than 5 years)
* Self funded retirees (including old age and medical) - overseas for cost of living and lifestyle reasons
* Australian citizens both from Queensland and from other States & Territories who are holidaying overseas for more than 6 months
* People who spend time both in Australia and overseas
* People on career breaks/long service leave needing time away or taking long trips
* Retirees on planned vacations
* People stranded overseas due to financial or medical reasons who cannot return in time
* People investing into QLD property from other countries, including overseas Australian citizens investing back into Queensland.
*  Visiting or attending to family/relatives overseas.
* Many other reasons.

The legislation was also applied retrospectively, meaning that those who had already bought property or invested into QLD property leading up the budget, had no forewarning and therefore made financial decisions based on the laws at the time. Not only was this extremely unfair, the absentee status was also applied from 1 July 2017, meaning that even if you bought your property after that date, the absentee status was backdated to capture 6 months.

Australian Queenslanders' and other Aussie Queensland property owners pay more than their fair share to the QLD economy, despite Labor's response to complaints, that it ensured we made a fair contribution. Anyone holding a property is well aware of the raft of taxes, rates and services needed to run it that run in the many thousands of dollars annually. Investors are also ensuring properties are available for families needing to rent to move to Queensland, to work and also contribute to the economy.

Now many are considering selling as they cannot afford to hold the property. The increase year-on-year taxes will mean many rental incomes will be so severely depleted that the property becomes a liability. Potential Capital Gains will be wiped out when applying losses from the taxes paid. It has deterred many from investing into QLD.


Freedom of movement for Queenslanders' has been taken away.