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 the usual practice.
For example, if an individual owned 10 properties around Australia and they were to buy just one in Queensland, the government would charge land tax based on an aggregated valuation of all the properties added together.
Palaszczuk originally planned to take the proposal to National Cabinet, but an earlier meeting with the state’s treasurers resulted in the idea being torpedoed….