Qld government slammed over planned property tax hikes

The Queensland Government is being urged to scrap its planned property tax increases amid concerns it will hurt the hip pockets of hard-working Queenslanders.

Property Council Queensland on Wednesday launched an appeal to the state to abandon the hikes, which are due to come into effect on July 1, arguing it could “risk wiping the state off the global investment map.”

Executive Director Chris Mountford, says the tax hikes will increase the cost of doing business, damage Queensland’s economic competitiveness and impact all Queenslanders.


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“With Queensland preparing to leverage the Commonwealth Games to attract new investment opportunities, these tax increases couldn’t come at a worse time,” Mr Mountford said.

Election campaign costings revealed the Government’s intention to introduce new land tax thresholds for aggregated land holdings with an unimproved value above $10 million.

Individuals, companies and trusts who are within this new threshold will be subjected to a 25% increase in the rate of land tax from 1 July 2018. The Government has also committed to increasing the stamp duty surcharge on foreign buyers of residential property from 3% to 7%.

“The end result of this decision will be higher business rents, higher costs for new homes, and damage to Queensland’s reputation as an investment destination,” Mr Mountford said.

“Businesses who lease premises from larger landlords can expect additional rental and occupancy costs.”

“New homebuyers can expect an additional $800-$1000 added to the cost of purchasing a new home.”

“We once were able to lure investment from interstate and overseas with attractive tax rates, but we now find ourselves uncompetitive with our southern neighbours.”

Liberal National Party Leader Deb Frecklington also slammed the hikes.

“The Premier calls it a ‘Robin Hood’ tax when in fact she is nothing more than the Sheriff of Nottingham.

“Queenslanders just want to get ahead but how can they when Labor’s only answer for its economic mismanagement is new taxes?”

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am writing to express my disgust at the current land tax rules for expatriates. Firstly, I am an AUSTRALIAN citizen, not dual, an Australian. I am exercising my democratic right to live overseas. I have a house in Brisbane that I have owned for 20 years, it was my primary residence, and I plan for it to be again when I return. The QLD government is hell bent on destroying financially anyone who doesn’t live i the state. My land tax bill this year was $15,000 – FIFTEEN THOUSAND DOLLARS, and all I make on the house is $22,000 in rent, that’s nearly 70% taxation. After I pay rates, insurance, maintenance etc, I am left with NOTHING. How is that the QLD government can destroy people financially who are simply trying to make it so that when I retire I’m not a burden on the system? How is it fair? How is it just? There’s a growing movement of others like me, who are sick to death of politicians riding the gilded horse while systematically destroying peoples financial lives and lifetime of working and saving AND paying taxes. What these politicians forget is we still vote and believe me it will never be forgotten how they think they can just destroy us without batting an eyelid. I really hope you take this matter up, it’s unjust, it’s unfair and it’s destroying people’s years and years of working and doing the right thing. Ultimately it’s either going to force people to sell their homes – their investments in making sure we’re not burdens on the system, and take away the revenue stream from the government. How can something so punative be bought in like this? I can’t begin to express my disgust, anger and dismay at how the government treats its own people.

Why is it also, that QLD fails to differentiate between Australian CITIZENS and FOREIGN investors? Victoria does!