Queensland Land Tax: A Tax For All Australians #Shorts

Queensland passed a new tax law in June that allows the government to use the total value of the investor’s land holdings, including interstate holdings, in calculating land tax. This change will hit interstate landlords and Queenslanders with tens of thousands of dollars in new land tax bills if they own even one rental property in the state and a holiday home elsewhere in the country. You’d be a fool to think that a tax on landlords in a tight rental market will not of course be passed directly onto tenants, seeing a spike in rents, hurting the very people the Premier is claiming to be helping. It would also be a disincentive for interstate businesses. Ah, the Queensland Labor Government. Create a new tax without thinking about the consequences! University of NSW’s Anthony Asher, says the opposite, though. “What a land tax does is bring the price down. It’s good for housing. It’s a positive all round. And because you’re taxing investors, it’s not tough on the poor”. What do you think?

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