Home Property Australia Chief Executive | Queensland – resetting the rising tide of tax 

Chief Executive | Queensland – resetting the rising tide of tax 

  • July 10, 2024
  • by Mike Zorbas
The Property Council’s 'Beyond Reach' report, revealed Queensland’s key frontline workers are among those hardest hit by the housing crisis

The Queensland election is 26 October (the week of our Townsville Congress). 

In the lead up, team Queenslander have commissioned two whip-smart pieces of research with immediate political results. 

Stacked Against Us and Beyond Reach. Read them and weep. They show where a decade of incremental taxing gets you on housing affordability.  

Government taxes, fees and charges now make up 32 per cent of the total cost of a new home and 33.3 per cent of a new apartment. For a $730,000 mortgage, that equates to a whopping $233,440 in taxes, fees and charges. It is death by a dozen counter-productive taxes.

Jess Caire and the team asked for a holistic, consultative and independent review of Queensland’s tax settings, including those levied on Australian companies who create homes using international investment. 

On 1 July the state government announced that Queensland Treasury will conduct a review of property taxes and charges, should they be returned. The following day the state opposition leader committed ensuring tax and planning settings supported the sector and encouraged innovation and investment. 

This is an important change in the tax conversation after ten years of unthinking taxation. 

Pleasingly, it was Property Council thought leadership wot started it.