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Land Tax Revenue Surges in Queensland

Thousands more properties in Queensland are now subject to land tax, generating hundreds of millions in extra revenue for the state government. This increase follows significant land valuation hikes, with over 204,000 properties under the land tax regime, a 13% jump from the previous year. The number of individuals paying this tax also rose by 30%, from 47,000 to 60,000. The land tax threshold has remained unchanged since 2007, at $600,000 for individuals and $350,000 for companies and trusts. Despite calls for adjustment, the government has no plans to change the threshold, citing stability and certainty in tax settings. Land tax is expected to generate $2.47 billion for 2024-2025, up from $2.03 billion the previous year.

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