September 18, 2018

Understanding Land Tax Exemptions in Queensland

If you are a landowner, there are several things that you need to keep in mind. One of these is land tax. Land tax depends upon various things that affect the amount that you need to pay. One way to calculate your land tax is by using a land tax calculator. However, bear in mind that this online tool is not designed to give you the exact land tax figure. It should only be used as a reference or guide, something that will provide estimates when it comes to your tax payments.

Did you know?

If your land in Queensland serves as your main residence, you may be eligible for a home exemption claim.

Another thing that you need to know about land tax is the exemptions. In general, these vary depending on where the land is. For instance, land tax exemptions in Queensland may be different from those in other states.

In this article, let’s delve into the land tax exemptions in Queensland:

  • You may be eligible for a land tax exemption depending on the type of land ownership as well as the use of the land. If the land has joint owners, each owner needs to fill out a form to claim an exemption.
  • If there’s an exemption, the taxable value of that piece of land will not be part of the total taxable value of all of your land. In other words, an exemption will lower your land tax.
  • If your land in Queensland serves as your main residence, you may be eligible for a home exemption claim. Fill out an exemption claim for land that is used as a home for individuals. You can download the form and submit it online.
  • If you are a trustee of a trust, you may be eligible for a claim for your land wherein all beneficiaries of the estate use the land as their residence.
  • There’s also such a thing as primary production exemption, and you may be eligible for this if all or a portion of your land is used for agriculture or dairy farming, or the business of primary production.  This also applies to multiple parcels of land, provided that each piece of land is used for the business of primary production.
  • If the land is used for an aged care facility, you may be eligible for a land tax exemption. It’s best to research the Aged Care Act 1997 (Cwlth) to know if you can claim an exemption.

Do you have other ideas on land tax and how to use the land tax calculator? You can share your insights in the comments section.

About the author  ⁄ Marxa Dillan

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