Another article discovered from last year and posted here for information purposes. This was published in the Australian Financial Review 24 Nov 2017 by reporter Matthew Cranston. Titled 'Queensland's property tax hit means some investors might have to sell'.
It outlines the impact on an investor caused as a result of the Land Tax & Absentee Surcharges that were introduced in May 2017 as well as the additional tax hikes for higher end properties that were implemented at the end of 2017.
Investor and Australian expat living and working in Singapore - Rembert Meyer-Rochow at the time of the article, stated he was thinking of selling his Gold Coast property due to his Land Tax bills being pushed to over $100,000!
The article also mentions, Queensland developer 'Consolidated Properties', property firm JLL and the Australian Property Council, who are all firmly against the Labor government's new property tax laws.
Steve Douglas, a fellow of the Taxation Institute of Australia and co-founder and managing director of Australasian Taxation Service also points out the need as well for foreign investment to maintain a balanced supply in the market.
Real-estate/Queenslands-property-tax-hit-means-some-investors-might-have-to-sell
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