Starting from 1 February 2024, changes are coming into effect concerning the principal place of residence exemption from land tax. If you’re planning to purchase or currently own a property, here’s what you need to know: Key changes From 1 February 2024, anyone who purchases and occupies a property but own less than 25% interest […]
Land tax in Queensland If you own land in Queensland (or are contemplating making a purchase) and also own other land interstate (or you are contemplating making a purchase) you may soon have an increased land tax liability. As of 30 June 2023, Queensland landholders’ land tax liability will be based on the Queensland proportion
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It’s quite common for individuals to subdivide land they own and then sell off one of the blocks. Depending on the circumstances, this can have capital gains tax (CGT) and GST implications. Capital gains tax If you subdivide a block of land, each resulting block is registered with a separate title. For capital gains tax
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