Land tax is calculated on the freehold land you own in Queensland at midnight on 30 June for the full financial year, and only applies to secondary properties above the $600,000 threshold. Information regarding exemptions, including for your primary home, is available at www.qld.gov.au/environment/land/tax/exempt/exemptions
The following exemption processes (in italics) has been provided by the QLD Treasurer’s office to assist:
Online
Owners who reside in their home can lodge an exemption online. If eligible, the liability will be reassessed as $0.
To do so, create an account via Queensland Government | Online tax portal (treasury.qld.gov.au)
For further details: Apply for a land tax exemption | Business Queensland
Manually
Alternatively, residents can print and mail a Form LT12 Exemption Claim – Land used as a home (Individuals). This will take longer for a reassessment to be issued as it must be processed manually.
For queries regarding land valuations and also how these relate to Council rate calculations please read our update at www.sandybolton.com/land-valuations-local-government-rate-calculations-march-2023.
Following the 2022 valuations, Sandy asked the Treasurer to commit to a review of the land tax valuation threshold commensurate with land valuation increases. It was not a positive response for those seeking relief, although it explains the QLD Government’s position which you can read at https://documents.parliament.qld.gov.au/tableoffice/questionsanswers/2022/542-2022.pdf. Given the 2023 increases, this will be revisited.
Further direct advocacy regarding land tax can be directed to the QLD Treasurer via treasurer@ministerial.qld.gov.au and please copy our office into any response you receive.
For further assistance or advice, please contact our office on 5319 3100 or email noosa@parliament.qld.gov.au