Property investors hit by land tax change plan to sell or pass on costs to renters

 Property investors affected by a change to Queensland’s land tax are considering selling out of the market or passing on the extra cost to renters, industry groups say.

Anyone who owns investment property in Queensland will soon have the total value of their Australian investment land assessed for land tax purposes. The move to include interstate holdings will start from June 30 next year, a move the state opposition branded “unworkable”.

Other experts say the change would rebalance an overheated property market that favours investors over owner-occupiers and renters, while the state government has called the reform “prudent”.

Read More: https://www.smh.com.au/property/news/property-investors-hit-by-land-tax-change-plan-to-sell-or-pass-on-costs-to-renters-20220912-p5bhgb.html



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