Federal silence on Queensland land tax
Federal Treasurer Jim Chalmers has refused to weigh in on Annastacia Palaszczuk’s controversial land tax shake up.
QLD Politics
Don't miss out on the headlines from QLD Politics. Followed categories will be added to My News.
Treasurer Jim Chalmers has refused to weigh in on the Premier’s controversial land tax shake up that will likely see rents spike, saying governments at all levels were “doing their best to repair the budget”.
It comes as the Property Council of Queensland warned the tax change from next year would have a “massive impact” on commercial landholders and businesses which had office fronts in multiple states.
Dr Chalmers, the Federal Treasurer, refused to weigh into the controversy – saying his state counterpart Cameron Dick and Queensland Premier Annastacia Palaszczuk were “capable” of “explaining the decisions that they take in state budgets”.
“I’ve got a very collegial relationship with the treasurers and particularly with the treasurer of Queensland and I understand that governments at all levels are doing their best to repair the budget,” he said.
From the end of June 2023 the value of a company’s non-exempt landholdings in other jurisdictions will be used to calculate the rate of land tax to be paid in Queensland.
The Queensland tax-free threshold for companies is $350,000, lower than the $600,000 for individuals.
Property Council of Australia Queensland executive director Jen Williams said it would be a “huge disincentive for businesses” to have their own premises and to be based in Queensland.
“(A business) might own their own premise in Queensland, New South Wales and Victoria, so they might own $1.5m worth in land in Queensland and then the same in the other states and suddenly their land tax bill has (increased) in Queensland,” she said.
Ms Williams warned another “big sleeper” issue was Queensland’s different land tax exemptions compared to other states, particularly on land used for activities like childcare.
Childcare centres in NSW are exempt from land tax while in Queensland land used for educational activities by charitable organisations is exempt, though there is no specific mention of childcare.
According to the Queensland Revenue Office land tax calculator, a company with a land portfolio of $1.5m in Queensland and $3m elsewhere would expect to pay $21,000 a year of tax under the current regime but this will increase to $22,500 from mid 2023.
Fears Productivity Commission gives LNP license to ‘dissect’ workers’ lives
A new government productivity agency tasked with improving lives will instead be used as a trojan horse to “dissect” the pay and conditions of workers, with powers to inquire into any aspect of Queensland life, opposition MPs say.
Has Labor lost the regions to Qld’s ‘de facto National Party’?
Katter’s Australian Party claims its support base is surging in the aftermath of Labor’s state election drubbing, and it’s a shift in dynamic that could have major implications for both parties in regional Queensland.