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.
Sunday, 18 November 2018
Things are looking very bleak now - property market values falling nationwide other than a few pockets here and there. Queensland is not immune it seems as well with signs of problems there as well. Very low auction clearance rates.
The contagion is spreading with the media (online, paper, TV and radio) just being totally saturated with negative news that is self-fulfilling. It is almost hourly being reported.
In my circumstances - I feel like I am a complete slave to Queensland now. I cannot sell my property (which would unshackle me from the chains of their taxes) as I would be set for a massive loss (bought & renovated less than 2 years ago) if I sold now based on recent property appraisals - seeing me potentially broke/living very frugally in my later years of retirement, needing to eventually go onto the pension and social housing to live in misery. Then I can be a burden to the tax payer! Thanks Palaszczuk. Labor can take money off me now, but by sending me to the financial wall they will have to support me till I die.
Now I cannot stay overseas long term as per my retirement plans - I have had to come back to avoid the next annual round of the severe Land Tax & Absentee Surcharge. Living out of a suitcase and unsure where to go and what to do. But the cost of living in Australia for me as a medically retired self funded retiree is also too excessive to live. I am caught in a Catch 22. Unable to live life on my terms. A Slave to the QLD State.
I am sure my issues can resonate with others with similar problems. Even those with very different issues - we are all affected in so many negative ways.
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
-
SUICIDE A REAL RISK FOR THOSE SUFFERING FINANCIAL HARDSHIP AT THE HANDS OF QLD LABOR'S LAND TAX & ABSENTEE SURCHARGE The implemen...
-
A popular Property Chat forum I am subscribed to has a few people that respond who support/defend the QLD Absentee Surcharge and Land tax. I...
-
NO NEWS YET ON BILL REGARDING SCRAPPING OF CGT TAX EXEMPTION FOR NON-RESIDENT OWNING A PRIMARY RESIDENCE No news it seems yet on the ...
No comments:
Post a Comment
Note: only a member of this blog may post a comment.