In a nutshell
Late last year, the Queensland Government announced
proposed changes to Queensland's land tax regime, so that
the rate at which a landowner pays land tax on their Queensland
landholdings will be calculated by reference to their
Australia-wide landholdings.
The changes seek to target what the Queensland Government
describes as a loophole, that currently results in landholders with
landholdings across more than one jurisdiction, paying less land
tax than landholders who hold the same value of land, but where all
of the land is located in Queensland.
How does it currently work?
Land tax is imposed in Queensland on the unimproved value of a
taxpayer's Queensland landholdings as at 30 June each year. The
rate at which land tax is calculated increases as the value of the
taxpayer's total Queensland landholdings increases (i.e. the
top rate for individuals is 2.25% which applies to the value of
Queensland landholdings in excess of $10 million). For
