- Queensland Treasury to undertake post-election review of state taxes and charges impacting the property industry, as requested by the Property Council of Australia.
- Aiming to deliver long-term improvement of economically sustainable housing supply
- Review to report back as part of 2024-25 State Budget
The Miles Labor Government will institute a review of Queensland’s tax settings that affect the housing market, with a view to further increasing housing supply.
The review will look at potential reforms to state-based taxes and charges, and how those changes might affect housing supply, state revenues, and ongoing fiscal sustainability.
A post-election review has been requested by the Property Council as part of their call to action.
As stated by Deputy Premier and Treasurer Cameron Dick:
“Queensland Treasury is always looking at Queensland’s tax settings to ensure that we remain nationally and globally competitive.
“But given current housing market constraints, now is the right time to develop and undertake a review of the impact that state taxes and charges have on housing supply and the property sector.
“This review will need to consider potential unintended consequences that changing settings could have on property prices.
“It will also look at the affect that changes in revenue settings have on the state’s ongoing fiscal sustainability.
“Given that housing availability will continue to be a challenge for any future Queensland Government, as requested by the Property Council, this review would be conducted after this year’s State Election, with its results to be considered as part of the 2024-25 Queensland Budget.”
