Blog

June 13, 2019

OVERVIEW OF THE 2019 QUEENSLAND BUDGET

The 2019-20 Queensland Budget has been announced this week, with many changes affecting landowners and employees across the state. Here is an overview of everything the budget covers.

The Budget includes a $12.941 billion capital works program. This program will support 40,500 jobs across Queensland, with more than 60% of these jobs located outside Greater Brisbane Region. The capital program includes funding for schools, hospitals, cultural facilities and social housing, with the aim of improving quality of life for Queenslanders.

This Budget...

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June 12, 2019

THE BUDGET AND INFRASTRUCTURE

The 2019–20 Budget delivers a $12.941 billion capital works program to support 40,500 jobs across Queensland, with more than 60% of these jobs dedicated to regions not in the Greater Brisbane Region. The capital program includes funding for social housing, schools, hospitals, and cultural facilities. An overview of the key projects is below.

$777.7 million in capital expenditure has been announced for the health portfolio, including $78.6 million for the Regional Hospitals program, and $40.7 million for the Rural and Regional Infrastructure package. Projects funded...

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June 12, 2019

THE BUDGET AND PROPERTY

This budget does not bring a lot of great news for Queensland property owners. Land taxes will be amplified for all property holdings over $5 million in the state. An extra 2% land tax surcharge will also apply for foreign companies and trusts.

Although the increases will hit the hip pocket of property investors, particularly foreign, the increase will raise $778 million in the next four years. Unfortunately, whether foreign owned or not, most of the impacted properties are home to...

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June 11, 2019

THE 2019 STATE BUDGET GENERAL RUNDOWN

The 2019-20 Queensland State Budget offers a selection of incentives, rebates and substantial investment into creation of jobs for Queenslanders. However, there are changes affecting landowners across the state that will make many unhappy.

Here is an overview of what the 2019-20 Queensland Budget has to offer.

  • $885 million business boost backing Queensland jobs
  • $5.7 billion towards lowering the cost of living
  • $847.9 billion justice system investment over five years
  • $18.5billion investment in health
  • $14.9billion investment in education and training
  • $515million investment into...

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June 11, 2019

THE BUDGET AND BUSINESS

Almost 450,000 small to medium businesses call Queensland home, and the 2019-20 Queensland Budget delivers a range of support offerings for Queensland businesses. Several initiatives aimed at helping small to medium businesses to increase job opportunities across the state. The initiatives will deal lower taxes for 13,200 small and medium businesses and offers new incentives to hire more Queenslanders.

The Government has introduced a new $1.3 million payroll tax free threshold for businesses which has increased from $1.1 million. The new...

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May 10, 2019

THE ELECTION & THE PROPERTY MARKET

The 2019 Federal Election is to be held on Saturday 18 May. We wanted to help you come to a better-informed decision by providing the latest, and best, details available on all the promises.

There are many promises which seem too good to be true, but one thing is for sure: there are many promises that come into play that will affect the property market. Both residential and commercial markets will feel the changes, especially if there is a Labor win.

Both...

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May 09, 2019

THE ALP

Labor have presented a range of ambitious promises for this month’s Federal election. The main promise that has sent fear through the property market is their proposed changes to Capital Gains Tax. The polls currently predict a Labor win; however, if this happens, Labor plan to scrap negative gearing for existing properties. They also plan to halve the CGT discount from 50% to 25%. If this happens, it will affect more than 1.25 million Australians who currently negatively gear investment...

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May 08, 2019

LIBERAL NATIONAL PARTY COALITION OVERVIEW

This election the coalition has promised a $158 billion 10-year income tax cut bundle which includes doubling the low and middle-income tax offset to benefit 10 million taxpayers.

This will include raising the 19% tax rate threshold from $41,000 to $45,000  and the flattening of tax brackets so everyone earning between $40,000 and $200,000 will pay a marginal rate of 30%.

They aim to continue to give franking credits rebate cash payments to self-funded retirees. This election, like many before it, the...

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May 07, 2019

WHAT THE NATIONALS, ONE NATION AND KATTER’S AUSTRALIAN PARTY WANT

Although we would most likely never see these parties leading the country in full, their input with preference leanings will make a difference in parliament as to what does and does not become legislation. Here is a quick look at what each of the minor parties want for Australia.

NATIONALS

This election, the Nationals leader is Michael McCormack. The National Party are attempting to hold onto 16 Lower House seats, several of which are held with very slim margins. The country-based party has...

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May 06, 2019

THE GREENS PARTY

This election Greens Party have announced many ambitious plans that pledge a high-taxing platform to pay for higher social spending. It includes protection of low-income earners shielded with middle and high-income employees bearing more of the load through bracket creep. Greens will accept the current proposed low-income tax offset if elected but repeal the $144 billion in income tax cuts from the 2018 budget. They will also oppose fluctuations in the 2019 budget to flatten tax rates. They also aim...

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