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Land Tax Thresholds Change regularly. You should contact Riba Business Lawyers to ensure that the rates have not changed since the  date of this Post.

For Individual who are resident in Queensland.

Taxable value Rate of tax
$0–$599,999 $0
$600,000–$999,999 $500 plus 1 cent for each $ more than $600,000
$1,000,000–$2,999,999 $4,500 plus 1.65 cents for each $ more than $1,000,000
$3,000,000–$4,999,999 $37,500 plus 1.25 cents for each $ more than $3,000,000
$5,000,000 and over $62,500 plus 1.75 cents for each $ more than $5,000,000

The Australian Personal Property Security Register was due to commence in May, then October this year and now, will commence in early 2012. It will affect most businesses and it is worthwhile looking at the impact of these new laws as soon as possible. Financiers, Lessors and Suppliers will need to make sure that they do not lose their rights over assets which they have secured. Buyers will need to make sure that no-one else has an interest in the item they are buying.

The new register will replace most traditional securities including bills of sale and company charges.

So what should you do to ensure that you are not affected?

Before a buyer can enter into a contract to purchase a business it is important to seek advice in relation to the most effective structure to use as the purchasing entity. There can be significant tax savings and other advantages if the correct structure is chosen before a contract is finalised.
Here is the most important piece of advice that your lawyer or accountant may not tell you in time. Are you ready? If you are investing money in the business as you almost always will, then you should make sure that this loan is treated as a loan and not a gift. You can lend this money to the business and secure it with a charge. If you register the charge then your initial investment will be protected forever. If things go bad, then you may be able to get your investment back even before the tax man gets paid.
So our first piece of advice is - "Begin with the end in mind". This will be the cheapest and best insurance against losing your home that you may ever buy so when setting up a business get some good advice and set up this asset protection structure from the start.