If you own property in Qld and have never paid land tax before, well, that could all change with new laws being passed in June of this year. The Qld Government has closed a loophole that we have had in place for some time, where interestate land holdings were never taken into account in assessing whether land tax is payable on Qld landholdings. As of 1 January 2023, these changes will come into effect, where interstate land holdings will be taken into account by the Commissioner, in determining whether a land owner in Qld is over the land tax thresholds set, and then liable to pay land tax. And land owners will be required to notify the Commissioner of their interstate land holdings otherwise face civil penalties of close to $15,000. An important and significant segment to listen to, to be up to speed with how these changes may affect you. It will be a space to watch whether the other states and territories in Australia will follow suit.
Browse and listen to the various episodes of Talking Law with Despina Priala where we talk about current law topics and issues. Each radio segment is uploaded on the Priala Legal website and onto our YouTube channel in case you missed it live. Alternatively, catch us live on Radio 97 every Thursday morning at 8:30am on 104.1FM Gold Coast & 103.5FM Northern Rivers. Part of the Super Radio Network.
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DISCLAIMER: The information discussed within the Talking Law videos is general in nature only and is not intended to be comprehensive, nor does it constitute legal or other advice in anyway, and should not be relied upon as such. The information is intended only to provide a summary and general overview on matters of interest and it is not intended to be comprehensive. You should seek legal or other professional advice before acting or relying on any of the content herein.
Posted By Despina Priala
Despina Priala has practised in property and commercial law on the Gold Coast for over 25 years and has extensive experience in this area.
Updated : 29th July 2022 | Words : 0 | Views : 12