Article published in Brisbane Times 18 July 2018. Reporter Felicity Caldwell.
This article in the link below was published as a result of me raising the issue of the lack of reporting of how the Land tax and Absentee Surcharge was not only affecting foreign investors.
The media had glossed over the details and failed to include the fact that Australian citizens owning property in Queensland were also included. Labor had quite surreptitiously included that. Curtis Pitt the Treasurer at the time, announced the 2017 Budget and these details were not focused on. As a result this legislation has slipped through without any fuss from Queenslanders, unaware that their own have been targeted too.
The Property Council of Australia is also critical of the double tax against Australian citizens.
QLD Labor provide a pathetic weak excuse as to why the tax was implemented which is easily debunked. It is a false argument, with the truth being that being an absentee means that you pay more tax than if you were actually in Australia instead and paying any other costs related to taxation.
Here is the link:
I would have never invested into Queensland property
The 2017 Labor Government Budget introduced changes to the Land Tax Act that causes nearly all Australian citizens owning property in Queensland, who are overseas for 6 months or more in a financial year, to be subjected to a combined Land Tax (at a reduced threshold) as well as an Absentee Surcharge at 1.5% of the value of your land. Prisoners of the State.
Tuesday, 25 September 2018
Subscribe to:
Post Comments (Atom)
A $1 billion hit to the Queensland budget as property market slides
A $1 billion hit to the Queensland budget as property market slides A $1 billion hit to the Queensland budget as property market slides
-
A $1 billion hit to the Queensland budget as property market slides A $1 billion hit to the Queensland budget as property market slides
-
Questions sent to Queensland Office of State Revenue to seek clarification regarding Absentee statusI recently spoke to an officer at the Queensland Office of the State Revenue seeking clarification on issues surrounding the interpretatio...
-
INCONSISTENCIES BETWEEN STATES OF AUSTRALIA REGARDING LAND TAX & ABSENTEE SURCHARGES Interesting article. It was first published in th...
No comments:
Post a Comment
Note: only a member of this blog may post a comment.