7 Things You Need to Know about Land Tax in Queensland
What is Land Tax?
Land tax is a state tax charged by the Queensland Revenue Office;
The amount of land tax is based on the taxable value of all lands in Queensland and interstate owned by you as of midnight 30 June each year.
Land tax rates vary depending on the type of the owners.
Which kind of land can attract land tax?
Vacant land;
Land with a built on it (such as houses, townhouses, units, and apartments)
When do you need to become liable to land tax?
Individuals and Special Disability Trusts- $600,000
Companies, Trustees of the Trust, Superannuation funds - $350,000
How to check the taxable value of your properties?
Google search “find your land valuation” and click the top one result. Alternatively, click the link https://www.qld.gov.au/environment/land/title/valuation/annual/find-your-land-valuation;
Type in your property address;
It will show the current value of the property immediately.
How to check if you owe land tax?
· Google search “QRO Online” and click the top one result. Alternatively, click the link www.qroonline.treasury.qld.gov.au;
· Click “MY LAND”;
· The website will show any owing balance of land tax and the taxable values of all your properties in Queensland.
How to apply for land tax exemption?
· Common exemption types include:
o Home exemption;
o Primary production exemption;
o Retirement Villiage;
o Aged Care;
o Charitable uses;
o Society and Clubs.
· To avoid that you have unknow owing land tax and interest accrued, we recommend that you log into QRO Online to make sure if you have received home exemption automatically.
How to apply for land tax exemption?
· Google searche “QRO Online” and click the top one result. Alternatively, click the link www.qroonline.treasury.qld.gov.au;
· Click MY LAND;
· Choose “MANAGE EXEMPTIONS” on the side menu;
· Choose “LODGE NEW EXEMPTION”;
· Choose “LT12” file and complete the form.