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Queensland’s foreign land tax surcharge
The State Government’s new foreign land tax surcharge sought to double the land tax liability for a large number of Queensland asset owners. Following Property Council advocacy, the Government has now committed to match Victoria’s exemption guidelines. This concession has led to a reduction in expected revenue from the surcharge of $291 million.
Land tax assessments notices have been delayed for many owners as this exemption framework is finalised, while other owners have been asked by OSR to identify if they meet the foreign owned threshold.
As the Government finalises this exemption framework, this event will provide an opportunity to hear from industry experts on what asset owners can expect, what the application processes will involve, who will be affected, and what the implications will be on overseas capital.
The Property Council of Australia is committed to building a diverse and inclusive industry to drive success. Please consider this when registering participants for this event.