|
|
The budget papers reveal that new and used housing investment in Queensland is expected to fall 10 per cent next year, with an overall plunge in dwelling investment of 5.75 per cent.
The state government also quietly introduced a land tax surcharge for absentee owners, reducing the unimproved land values threshold for the tax to $350,000, from $600,000. It could capture residents who are overseas on holidays for more than six months.
The move follows last year’s introduction of the foreign investor surcharge on stamp duty, which is budgeted to bring in $25 million revenue this year. The government has refused to disclose the actual amount raised.
A property valued at $400,000 for land tax, which can include a strata unit, will be subject to an additional $750 in tax, bringing the total to $3050. A $1m valuation would be subject to $22,250 tax, a jump of $9750.
Mr Pitt said Queensland was following the federal and Victorian governments in ensuring absentee landowners were “paying their way”. |
|
论坛元老