Qld 30% Land Tax increase...

¢  Queensland – Proposed Land Tax increase

The Queensland government is proposing to increase land tax by an unprecedented 30% in what appears to be a money grab from southern landlords who don’t vote in Qld. Property investors have always been seen to the goose that laid the golden egg.

NSW has increased land tax by only 3% whilst Victoria has actually decreased by 2% in an effort to boost investment. Remember what happened when NSW government introduced an Exit Tax, the investment property market in NSW plummeted and investors purchased in other states.

The Qld government may be cutting off their nose despite their face in an effort to grab short term revenue.  They risk turning away new investors which are vital for creating significant long term revenues. The multiplying effect of new development contributions, rates, land taxes, jobs, infrastructure contribution and so forth would far exceed the short term money grab.

I just hope they wake up to themselves before they scare away the golden goose.