New payment options for land tax
Source: Queensland. Treasurer. Media Release.
"Treasurer Andrew Fraser said legislation introduced into parliament would rewrite Queensland’s land tax laws, including the implementation of new payment and capping arrangements. “Land tax is only paid by 0.5% of Queensland residents, and it can be very complicated when dealing with old legislation. It makes sense to make it a lot easier to understand, administer and comply with,” Mr Fraser said. “From the 2010-11 financial year, land taxpayers will be able to either pay their entire amount of tax 90 days after they are given their assessment or in three equal instalments at 45, 90 and then 150 days after assessment."