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Accounting bodies welcome Palaszczuk backflip on land tax

Professional tax bodies united in condemning Queensland’s expanded land tax regime after the state Premier bowed to pressure and abandoned the changes late last week.

Accounting bodies welcome Palaszczuk backflip on land tax
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  • Shared from Accountants Daily
  • •
  • October 04, 2022
  • •
  • 1 minute read
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Accounting bodies welcome Palaszczuk backflip on land tax
They said it exposed a need for land tax reform along national lines but Queensland’s decision to go it alone would have “consequences for confidence” and should never have gone that far.

Queensland Premier Annastacia Palaszczuk ditched the controversial land tax after weeks of negative publicity and a refusal by NSW Premier Dominic Perrottet to co-operate.

The changes, which were due to start next year, would calculate an owner’s liability for land tax based on the total value of their Australia-wide holdings that are not exempt, not just those in Queensland.

Read more at Accountants Daily

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