09 Sep When is Land Tax Payable?
Posted at 03:20h
in For Commercial Landlords, For Home Buyers, For Home Sellers, Land Tax
91 Comments
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 |
For Trust and Companies
Taxable value | Rate of tax |
$0–$349,999 | $0 |
$350,000–$2,249,999 | $1,450 plus 1.7 cents for each $ more than $350,000 |
$2,250,000–$4,999,999 | $33,750 plus 1.5 cents for each $ more than $2,250,000 |
$5,000,000 and over | $75,000 plus 2.0 cents for each $ more than $5,000,000 |
Land Tax valuations do not normally include the value of the building. For advice please contact us.
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