Sandy has continued her advocacy since 2023 for a review of the land tax threshold to provide relief to both residents and local businesses alike in efforts to reduce flow on burdens to tenants. Per our August 2023 Noosa 360 update, we understand, and as indicated from previous responses from Government, that Queensland’s threshold is one of the most generous in Australia, however it has not changed since 2008-09 and needs to be reviewed.
Thankfully, following this advocacy by Sandy and others, the Government has now made a commitment to review all property taxes including land tax next year. The following has been provided by the Queensland Treasury regarding:
The Queensland Government will institute a review of Queensland’s tax settings that affect the housing market, with a view to further increasing housing supply.
The review will look at potential reforms to state-based taxes and charges, and how those changes might affect housing supply, state revenues, and ongoing fiscal sustainability.
Sandy will be tracking this review regardless of who holds Government after October 2024.
In addition, the implementation of the automatic land tax exemption system that the current Queensland Treasurer mentioned in their response to Sandy’s letter in August 2023. Currently exemptions have to be manually applied for, leaving the possibility for residents to be caught out when they should be exempt. Until this in place, our office has posted the Land Tax Exemption Process at www.sandybolton.com/land-tax-exemptions-march-2023. A common exemption is if a property is your ‘Home’ rather than an investment property.
As mentioned in our September 2023 Noosa 360 update, the Independent Valuer General has not included Noosa in the list of LGA’s to be revalued in 2024, even though Sunshine Coast will be. This ‘breather’ is appreciated while Sandy’s advocacies continue to see more improvements to the system and less impacts.
Further information
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.
Further direct advocacy regarding land tax can be directed to the QLD Treasurer via treasurer@ministerial.qld.gov.au and please cc’ our office in via noosa@parliament.qld.gov.au and forward any response you receive to us.
For further direct advocacy regarding how land valuations are completed, can be directed to the Minister for Resources via resources@ministerial.qld.gov.au and please cc’ our office in via noosa@parliament.qld.gov.au and forward any response you receive to us.
Updates on many local matters are available on Noosa 360 at www.sandybolton.com/noosa360. To receive information straight to your email inbox, please subscribe to our monthly newsletter via www.sandybolton.com/newsletters. This also ensures you receive any future Noosa related surveys or polls.