The premier of Australia’s most populated state New South Wales (NSW), says he is focused on creating “policies for the next generation” as he launches a major overhaul of tax settings for first-home buyers in the state. “We need to think big, do things differently and deliver new policies to drive NSW forward,” Dominic Perrottet…
Coalition ‘Thinks Big’ in New South Wales Land Tax Reform
January 15, 2023
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AustraliaAustralia real estateBusiness & MarketseconomyGlobal Real EstateLand TaxNew South Walesreal estateWorld
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NSW Pushes to Convince Residents to Opt out of Stamp Duty for Land Tax
October 9, 2022
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AustraliaBusiness & MarketsDominic Perrotteteconomic policiesGlobal Real EstateLand TaxNew South WalesNSWreal estateWorld
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The New South Wales (NSW) government has launched an online calculator to allow first home buyers in the Australian state to see how much money they would save by switching to an ongoing land tax instead of the current stamp duty. This comes as the NSW government is set to introduce legislation to trial the…
Queensland Scraps Multi-Jurisdiction Land Tax Proposal
September 29, 2022
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Annastacia PalaszczukAsia & PacificAustraliaBusiness & Marketseconomic policieseconomyGlobal Real EstateInternationalLand TaxQueenslandreal estateWorld
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Queensland Premier Annastacia Palaszczuk has shelved a contentious proposal to introduce a nation-first multi-jurisdictional land tax after an apparent lack of support from her state counterparts. The proposal would have seen Queensland charge investors land tax based on the value of all their property holdings across the country, not just within the state, which is…
NSW Refusing to Play Ball on Queensland’s Contentious Extra-Territorial Land Tax
September 27, 2022
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AustraliaBusiness & MarketsCameron DickDavid CrisafulliDominic Perrotteteconomic policiesGlobal Real EstateInternationalLand Taxpersonal financeQueenslandreal estateWorld
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New South Wales Premier Dominic Perrottet has ruled out cooperating with Queensland state authorities to help roll out its contentious extra-territorial land tax. In a nation first, the Queensland Labor government’s proposal will calculate the amount of land tax owed by an investor based on their total property holdings across the country, instead of what…
Queensland’s New Land Tax May Be Unconstitutional
Commentary From July 1, 2023, the method of calculating land tax in the state of Queensland will change. It will be calculated not only based on freehold land owned by taxpayers in Queensland but also on land owned by them in the other Australian States. But land valued at under $600,000 (around US$400,000) and a…
Queensland’s New Extra-Territorial Land Tax May Be Unconstitutional
Commentary From July 1, 2023, the method of calculating land tax in the state of Queensland will change. It will be calculated not only based on freehold land owned by investors in Queensland but also on land owned by them in other Australian states. For example, currently land valued at under $600,000 (around US$400,000) or…
New South Wales Land Tax Plan to Cover Most Home Sales
More than eight out of ten homes sold in Australia’ state of New South Wales would qualify for a proposal allowing first home buyers to opt for an annual land tax over paying one-off stamp duty, the government says. About 84 per cent of homes sold fall under the A$1.5 million (US$982,192) threshold for the…
Queensland Should Control Its Spending, Not Impose a New Interstate Land Tax
Commentary Queensland’s government has proclaimed that in the spirit of the state’s long-standing fiscal tradition, it is committed to “no new or increased taxes” and to its tax take being below the average of other states. Taxpayers would be relieved to hear of this commitment. But it is difficult to reconcile with the Queensland government’s…
Queensland Should Control Spending, Not Impose a New National Land Tax
Commentary Queensland’s government has proclaimed that in the spirit of the state’s long-standing fiscal tradition, it is committed to “no new or increased taxes” and to its tax take being below the average of other states. Taxpayers would be relieved to hear of this commitment. But it is difficult to reconcile with the Queensland government’s…
Queensland’s Nationwide Land Tax a ‘Desperate’ Move to Deal With Ballooning Debt
“It was so outrageous that we assumed it would never pass,” was one comment passed on to Antonia Mercorella, CEO of the Real Estate Institute of Queensland (REIQ). “I think a number of us were scratching our heads wondering who came up with this particular reform because I think it’s really taking tax to a…
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