Land Tax Relief Extended

As part of the Palaszczuk Government’s mini-budget, it will deliver an additional $249 million in Covid-19 related tax relief to small and medium-sized businesses across the state. A 25% land tax rebate was announced by the Queensland Government, which will be available for eligible properties for the 2020-21 assessment year.

The most recent announcements are in addition to the $400 million dollar land tax relief package that was released in April. That announcement included a deferral of 3 months for 2020-21 land tax liabilities, as well as a 25% rebate for 2019-20 land tax liabilities, and a 2.0% foreign surcharge waiver for 2019-20.

The rebate does apply to owner-occupied land and doesn’t need to be repaid as long as certain eligibility conditions have been met. It is only available to people who own eligible property and were liable for land tax as of midnight on June 30, 2019 and / or are eligible on June 30, 2020.

As with the previous rebate announcement, eligible landowners are required to lodge their application with the Queensland Office of State Revenue. Applications for the land tax rebate for 2019-20 close on 31 October 2020, whereas applications for the 2020-21 financial year close on 26 February 2021. Most landowners won’t receive their assessment for 2020 until 3 months after the date they received their 2019 assessment.

For those landowners who are liable for land tax this year and whose assessment notice for 2019–20 was dated 1 November, 2019, they will most likely not issue their 2020–21 notice before 1 February, 2021. That being said, landowners can make a request that their assessment is issued to them earlier. Whereas foreign entities who didn’t receive their 2019-202 assessments until March or sometime later in 2020, they may not receive their assessment for 2020-21 until sometime around June 2021.

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