Queensland’s land tax thresholds have remained unchanged for many years despite significant increases in land valuations across the state. Many property owners who previously did not incur land tax including those holding small to mid-sized commercial investment properties are now being burdened with rapidly increasing tax liabilities. Escalating valuations, particularly in commercial zones, have resulted in more property owners unintentionally crossing outdated thresholds. This growing disparity places undue financial strain on small business investors and property owners who are critical to our local economies. Without an adjustment to reflect current market conditions, this tax increasingly penalises those it was never intended to capture.

Your petitioners, therefore, request the House to review land valuations as set by the State of Queensland and in turn the land tax thresholds as also set by the State of Queensland that are resulting in increased taxation of property investors, increased cost of rentals for both residential and commercial rentals with a negative financial impact across the community.