ARTICLE · 28 JUNE 2022

2022-23 Queensland Budget

McCullough Robertson

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Summary of key reforms introduced with the Qld budget & their impact on individuals & businesses across Qld.

AustraliaTax

Melissa Simpson

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The Queensland Budget for 2022-23 was handed down on Tuesday, with a host of revenue reforms announced. Below, we provide a brief summary of the key reforms introduced by the Revenue Legislation Amendment Bill 2022 (Qld) (the Bill) and their impact on individuals and businesses across Queensland.

Land tax

Queensland's method of calculating land tax will significantly change with effect from 30 June 2023, and landowners in Queensland who also own land in other jurisdictions can expect not only a notable increase in their land tax liability but also a significantly greater administrative burden in complying with their land tax obligations.

The land tax reform that was announced in December 2021 in the Mid-year Budget Update will be implemented such that the rate at which land tax is levied on Queensland landholdings will be calculated with reference to a landowner's Australia-wide landholdings (where previously, this rate was calculated with reference only to

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