QLD Land Tax Changes (Explained) | Legally Minimise Tax In 2023!

[@PersonalFinancewithRaviSharma]

Email me 👉 [e-mail]

[@ZeniaWood]

What if my PPOR is in QLD but I want to invest interstate. Will I still be forced to pay land tax if I'm above the threshold?

[@mataji7049]

Thanks Ravi. You have saved me some money and have given me some good ideas!

[@plowestory]

Great info -thank you, hope to have this problem....oneday

[@utkarshsrivastava3739]

You are a legend dude! Absolutely love your content, keep it coming 🙂

[@jerryerzhu9236]

Thanks for sharing the thoughts

[@pjj1397]

Ravi I always enjoy your videos love your work

[@jaydonwheeler5167]

Thank you Ravi! Love your content brutha 💙

[@AFulfilledLife]

Great summary thanks Ravi!!

[@PersonalFinancewithRaviSharma]

Thanks for watching Marel! Glad you enjoyed the summary

[@FliesEyes]

I am still concerned about the changes to the Qld Constitution that makes the government think that this land tax is valid. I'd suggest it might be unconstitutional.

[@MrGinz4uuu]

what if you own a investement property in Qld and ur PPOR INTERSTATE, will the land value of ppor interstate also included?

[@longchu8273]

I just bought a property in QLD and curently own 2 properties in NSW, all under my name, should I put my QLD property into a Trust?

[@ramratansinghi8661]

Hopefully, this new QLD Land Tax doesn't affect Unit and Apartment Owners and Investors.

[@hasaki_oce4611]

For crazy high rises, you'd probably own 20 apartments but still under 600k of land value XD

[@Caspricocious]

Well that's an unexpected change by the QLD Gov wow. A move that would have only forecasted lower Real Estate prices for them to be approved. . . .

[@PersonalFinancewithRaviSharma]

Crazy times right!

[@shoaibk7019]

How will work if all others state do the same ? Would you get charged multiple times for the same property or Australian states have decided to exist and operate independently- doesn’t make sense for the country size of Australia

[@PersonalFinancewithRaviSharma]

Won't happen in other state IMO

[@kelvinjames6344]

Is this a second tax on tax? Queensland has lost the plot

[@Betterthat]

This is not a tax on tax, but rather increasing tax rate on QLD property based on how much land the owner has in other states. Will this help to relive QLD rental crisis?

[@rileysmall4317]

@@Betterthat no it'll increase the cost of rent. the cost of owning a property directly influences the cost of rent, the higher cost it is to own something the higher rent will be paid. they are pouring fuel on the fire and i guarantee they know this, its basic economics. imo they are trying to crush the low and middle classes rather than taxing companies like bp a bit more. they want people to work and spend all their money they've made so they can never get ahead. around 40 years ago it took roughly 8 years for someone making the average wage to buy the average house. now it takes around 40 years of saving and by increasing tax on the middle class this only makes the gap larger. socialism at its finest, they are slowly making it so that every Australian has to depend on the government. also it is pretty much a tax on tax as if you own property in qld and nsw you'll pay qlds tax on the nsw property then you will also pay nsw tax for your property in nsw. so say you own 1 million in nsw and 1 million in qld you are now paying tax on 2 million for qld then you are paying tax on 1 million in nsw. so essentially you are paying tax on 3 million worth of property despite only owning 2 million.

[@kelvinjames6344]

Also the insurance for North Queensland and then the rates up north doesn't seem good investment better locations in south Australia, nsw or Vic

[@Betterthat]

What do you mean "if you don't have the rights structure "??? Many investors had it right before QLD government made the announcement. Do you know that in South Australia the state government will group all properties held by your companies, trusts and individually and send you a land tax bill for the total value in a couple of years? Victoria is about to apply the same rule. If the state governments do not grandfather their land tax changes, then any structure you set up today will be the wrong structure the day your local state government decides to tax it a little more, or much more if they wish. P.S. good luck to state governments in their efforts to encourge investors to provide more affordable rentals properties.

[@rileysmall4317]

their efforts are the exact opposite. by increasing land tax the cost of rent goes up as the homeowners pass on the bill through rent. why should a homeowner be used as the governments personal atm, Australia already has the highest tax compared to most nations. when gst came in that was supposed to replace stamp duty but no of course not, the government is trying to destroy the middle class rather than taxing the true elites a tad more (bp for example). they make these changes telling people that this will somehow lower rent prices but in reality it'll do the opposite and i guarantee they know that.

[@Betterthat]

@@rileysmall4317 Yeah, government use property investors as ATM, as emergency accommodation providers during pandemic, and they get called as greedy evil landlords. I agree they do the opposite to what they are trying to achieve. It's just the side effects of their policies show up a few years later, but in the moment they can say they tax rich to build affordable housing for poor.

[@rileysmall4317]

@@Betterthat its insane for someone young like me, it makes me honestly consider moving countries despite really not wanting to. they make poor decisions raking up bills then pass them on to the "rich" who infact in most cases are not rich whatsoever so they also pass on those costs imposed by the government down the line creating the image that landlords are greedy when in fact they have no other choice. this all could be solved if they would just increase tax on big mines out west but they will not do that because that'd be a logical, rational solution.

[@Betterthat]

@@rileysmall4317 QLD Rents will rise much more as a side effect, but it will take years. Regrading QLD land tax, they do not tax on overseas land value - they calculate tax rate on QLD land based on countrywide land holdings. So the tax is only paid on QLD land holdings, but at higher rate squeezing QLD investors further. Not all state governments are this aggressive towards property investor. Have a look at how investors are treated in Tasmania, NSW, and WA, check land tax rates and tenancy laws. Those are much friendlier. Maybe moving states is a good alternatives to moving countries.

[@jobinjoseph5205]

Bro a dodgy developer is going to use a sunset clause on my land in Logan village in November. If I was in India I would have had lots of points of help to stop these frauds to invoke such mean clauses. The land is progressing well now, it looks like just 1 month before they complete, they will stop my 18 months of waiting on this land which they sold me promising to complete in July 2021. My lawyer who was introduced to me by selling agent sounded very biased to the seller, and actually he worked for them in the past. Could anyone help me here?

[@Betterthat]

I'm sorry to hear that this is the route taken by the developer. Did anyone mention a possibility of this happening when you were signing the contract? You may not get much out of going after the developer, but going after the biased solicitor could be an idea

[@nitm1983]

Good one Ravi .. good insight . How do I contact you mate I do have lot of land available in QLD 😀

[@updatename6637]

Hi Ravi. Great video and great explanation …. As a foreign investor in real estate looks like is no sense to do it in Australia market …. As buyer I have to pay stamp duty 6% and extra 8% as a foreigner , plus for land tax again some extra as foreigner plus hassle as a foreigner :) Capital gain tax after that And try to make some money after selling property ….. or I’m missing something ????? Still looking to get some property anywhere in Australia ….. but have some concerns about this situation…..

[@rileysmall4317]

fun fact when they brought in gst they did so under the condition that they would get rid of stamp duty but they didnt. the government wants to crush the middle class.

[@claudiosimonella3927]

Banks won’t lend you money in a trust

[@franknirvana1]

Overseas investment here we come. And thats how Australians get screwed by our Governments

[@donnykiofetzis5775]

obesely you live in public house. to call it a little land tax

[@tons241]

Honestly I'm all for extra taxes on investors. I'd also love to see negative gearing go and the capital gains tax be brought back up to it'd original state. Negative gearing is just wasting tax payer dollars on bad investments

[@mushy111]

So you're OK with increases in rents when theres already a rental crisis? Sounds a bit weird but OK.

[@tons241]

@@mushy111 the last census has approximately 1 million homes across Australia vacant. This crisis is one made by investors and black money.

[@mushy111]

@@tons241 Doesn't alter the fact that the first thing investors will do is pass the cost of this tax directly onto tenants.

[@rileysmall4317]

so you want higher rents. why?

[@franknirvana1]

I sense bitterness from you towards those that do not wish to rely on Government handouts for the rest of their lives. Im guessing you are ok with being homeless when no one invests in real estate any longer and you don't have a roof over your head.

[@ToriVigor]

Hi Ravi, I sent you an email last week in regards to organising a meeting but haven’t heard anything back. We’d love to be able to get in contact to be able ti discuss investment strategies

[@PersonalFinancewithRaviSharma]

Hey Tori! Sorry about that! Will be doing emails this weekend. Currently travelling Europe ✌🏽

[@ToriVigor]

@@PersonalFinancewithRaviSharma thanks so much for getting back to me. Look forward to hearing from you. Enjoy your travels 😊