Land tax hikes as the absentee surcharge rises in Queensland
Following the recent announcement by the Palaszczuk government that the absentee surcharge in Queensland will rise to 2.0% from 1.5%, experts consider the potential impact on the local property market.
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As of July 1st, 2019, land taxes for foreign investors in Queensland has risen. The absentee surcharge has been lifted to 2.0% from the previous level of 1.5% by the State Government.
When the Queensland State Treasurer handed down their latest budget, of particular note for property investors was a change to the absentee surcharge.
The absentee surcharge is effectively a tax on any investors not holding Australian Citizenship or a Permanent …
