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The residential property market in Alice Springs is facing significant challenges, driven by high crime rates, a lack of government incentives, and rising interest rates. Lindsay Carey from the Real Estate Institute of Northern Territory has highlighted several critical issues impacting the market, including an imbalance between supply and demand, decreased borrowing capacities, and a sluggish month for buyers.

The Queensland government has unveiled an analysis indicating that complying with the demands of the Property Owners Association and the Real Estate Institute of Queensland (REIQ) to reduce land tax for landlords would necessitate an annual taxpayer expenditure of $1 billion. Treasury modelling predicts this significant financial burden over the next four years.

The Property Owners Association has called for an increase in the tax-free threshold on land values from $600,000 to $1.8 million, while the REIQ advocates for indexing these thresholds to inflation. According to the Treasury’s estimates, these proposed changes would result in a substantial financial impact, with costs expected to escalate to $400 million in the 2027/28 financial year.

Land tax remains a vital component of Queensland’s revenue, funding essential public services such as roads, hospitals, and schools. Notably, only 0.9% of the population currently pays land tax. Despite this, the Property Owners Association argues that the government should prioritize the construction of social housing over increasing land taxes. Conversely, the REIQ insists on property tax law reform in light of soaring property values.

Both associations continue to press the state government for revisions to the existing land tax policy, highlighting the ongoing debate over how best to balance revenue generation with fairness and economic growth.

The Queensland government has unveiled an analysis indicating that complying with the demands of the Property Owners Association and the Real Estate Institute of Queensland (REIQ) to reduce land tax for landlords would necessitate an annual taxpayer expenditure of $1 billion. Treasury modelling predicts this significant financial burden over the next four years.

The Property Owners Association has called for an increase in the tax-free threshold on land values from $600,000 to $1.8 million, while the REIQ advocates for indexing these thresholds to inflation. According to the Treasury’s estimates, these proposed changes would result in a substantial financial impact, with costs expected to escalate to $400 million in the 2027/28 financial year.

Land tax remains a vital component of Queensland’s revenue, funding essential public services such as roads, hospitals, and schools. Notably, only 0.9% of the population currently pays land tax. Despite this, the Property Owners Association argues that the government should prioritize the construction of social housing over increasing land taxes. Conversely, the REIQ insists on property tax law reform in light of soaring property values.

Both associations continue to press the state government for revisions to the existing land tax policy, highlighting the ongoing debate over how best to balance revenue generation with fairness and economic growth.

The Queensland government has unveiled an analysis indicating that complying with the demands of the Property Owners Association and the Real Estate Institute of Queensland (REIQ) to reduce land tax for landlords would necessitate an annual taxpayer expenditure of $1 billion. Treasury modelling predicts this significant financial burden over the next four years.

The Property Owners Association has called for an increase in the tax-free threshold on land values from $600,000 to $1.8 million, while the REIQ advocates for indexing these thresholds to inflation. According to the Treasury’s estimates, these proposed changes would result in a substantial financial impact, with costs expected to escalate to $400 million in the 2027/28 financial year.

Land tax remains a vital component of Queensland’s revenue, funding essential public services such as roads, hospitals, and schools. Notably, only 0.9% of the population currently pays land tax. Despite this, the Property Owners Association argues that the government should prioritize the construction of social housing over increasing land taxes. Conversely, the REIQ insists on property tax law reform in light of soaring property values.

Both associations continue to press the state government for revisions to the existing land tax policy, highlighting the ongoing debate over how best to balance revenue generation with fairness and economic growth.