The Queensland Government passed changes in the Revenue Legislation Amendment Act 2022 (QLD), amending Land Tax Act (2010). The Land Tax Act would have required taxpayers with investment properties across Australia to voluntarily disclose to other States their interstate holdings, prior to being taxed for their holdings located in Queensland. The landowner’s total landholding in Australia would be considered when assessing the taxpayer’s land tax liability in Queensland. Hence, landowners who own multiple properties across the country will be susceptible to a considerable increase in Queensland land tax.
The Queensland Premier Annastacia Palaszczuk announced at the National Cabinet Meeting on 30 September that the Land Tax change would not proceed after facing criticism from other State Leaders who refused to cooperate with the change.