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Taxes Hiked & Renters Will Pay

#auspol #alp #heisesays
Queensland is essentially taxing land in other states and renters will end up paying the price.

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  1. > just rem kids…if you have all your yuan tied up in Aussie housing…you cant shift it without telling the gov ect… > that means that the vast majority of people…are rats in (small – sub 500 SM blocks ) cages…just ripe for the milking …ever see that esp of the Simpsons with that RAT MILKING SCENE > aaannnd thattts YOU !

  2. A good way to cause trouble is force them to provide a paper and mail way to declare the land. Spread the word to not use the QRO online system and everyone start to call the relevant government agency and argue for paper forms and a mailing address. You just need enough people to do this to apply enough pressure that they will need to drop the new system as they will not actually have enough staff to deal with the mail and to enforce compliance.

  3. I will just clarify the situation, here is an example, you currently own two properties in qld , land value 700k each , 1.4 million total , you currently pay $5, 550 property tax on each . You neighbor owns one property in qld , and one property in nsw, both valued at 700k each, he currently pays no tax on his nsw property, and only $1,500 on his qld property, because he is only taxed as if he owns one property in Australia, the New law doesn't tax his nsw property, but his qld property will be taxed at the same rate as the guy who owns two properties in qld , that is $ 5,550, he can no longer claim he has only one property, because currently he's getting a discount on his tax from both state governments, all this new law does, is make every who owns investment property in qld pays the same . The guy still pays no tax on his nsw property. It's all on the government website. Hope this clarifies lot of misinformation.

  4. sounds more like they are closing a loop hole that allow people to own millions of dollars of real estate in other states and claim tax free on queensland land as if you have one property

  5. " Why is the QLD government doing this ? " . They are going to demolish the totally rebuilt world class Gabba Stadium and spend 1 billion dollars ( be double this figure ) rebuilding it in the same location .

  6. What are they going to do if people don't Consent to creating a QRO account?
    I know many Directors who haven't even done that Director ID BS & nothing has happened to them

  7. Here is another way to look at this, you own two properties in qld Value 700k each, 1.4 million total, you currently pay$5,550 land tax on each property. Your neighbor owns only one property in qld total value 700k, he only pays $1,500 in land tax , he gets a discount because he only has one property, now he goes and buys a property in nsw ,value 700k, there he pays no tax , you own two properties in qld and currently pay $11,100 in tax , your neighbor now owns two properties of the same value but in different states, he only pays $ 1,500 in tax on his qld property , the new scheme will make him pay the same as you $5,550 on his qld property, and still nothing on his nsw property, I think that's a fairer way .

  8. Here is another loophole that needs fixing, if a landlord owns 8 properties say in qld , valued at 700k each ,total $ 5.6 million, he will pay around 125k property tax, if another landlord owns 8 properties , but one in each state, he pays little to no tax, because he claims to each state government that he owns only one property, this is one country , and we should be taxed as one country.

  9. Lets say I'm a Billionaire. I buy one investment property in every state in Australia. In each state I am under the tax free threshold. I deploy hundreds of millions of dollars to do this in every country in the world. I benefit from all the public works projects around my land paid for through taxes, thereby increasing my land's value. I pay no tax. I receive income from tenants. I have capital gains when I sell. I contribute nothing.

  10. Income tax rate is calculated based on your global total income and Australia taxes what was earned in Australia. The land value tax is calculated based on your nationwide land value and the value of what is in queensland is taxed in queensland. It would be nice if I could have 2 jobs in 2 countries each for half the year and decrease my marginal tax rate in both countries while making the same gross income. It doesn't work like that because that would be unfair to everyone else making the same gross income. This change works on the same principle and should be common sense.

  11. Land tax calculated according to land holdings Australia wide! Hmm..

    Why only in Australia? Include land owned worldwide! Why only land? Include all other assets and calculate QLD land tax based on the total wealth of the individual including their siper!

    QLD government, you have gone nuts

  12. Totally agree that the rental availability will reduce further as many interstate investors will sell up QLD properties and will look at investing in friendlier states. Those investors who will be brave to stay put in QLD will increase rents due to increased competition for rentals

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