Land Tax

General Information
The Office of State Revenue (OSR) collects land tax in Queensland and administers the Land Tax Act 1915.

Land tax is levied by the Queensland Government on freehold land owned in Queensland as at midnight on 30 June each year.

For land tax purposes "land" includes vacant land, land that is built upon, building unit plans, group title plans, time shares and home unit companies. 

Who is liable to pay?
Land tax is payable by the owner of any interest in freehold land in Queensland if the aggregate value of all land interests exceeds the relevant threshold.

There are various classes of taxpayers including residents (natural persons who ordinarily reside in Australia), absentees (natural persons who do not ordinarily reside in Australia), companies (includes clubs, associations etc.) and trustees (includes trustees of deceased persons' estates). 


See link below for more information.

www.osr.qld.gov.au/calculators/land_tax_estimator.shtml



What are Land Tax Thresholds?
Land owned by an individual
An individual may be liable for land tax if the total unimproved value of the freehold land owned by that person as at 30 June 2006 is equal to or greater than $500,000.

Land owned by a company, trustee or absentee
A company, trustee (including trustee/s of deceased estates), or an absentee, may be liable for land tax if the total unimproved value of the freehold land owned as at 30 June 2006 is equal to or greater than $300,000.
("Company" includes club, association, society etc. An "absentee" is an owner who does not ordinarily live in Australia or an external territory.)

Depending on the use of the land, certain deductions may be available to reduce the taxable value of the unimproved land.