Anna slaps down plan for huge tax bills

Queensland Premier Annastacia Palaszczuk has scrapped plans for a controversial new land tax, to the relief of certain industry groups.

A spokesperson for Treasurer Cameron Dick confirmed the change on Friday morning ahead of a national cabinet meeting involving state leaders.

The proposed system involved basing investor tax bills on the value of their property holdings nationally.

As well as facing backlash from industry groups, who said it would stifle investment, several state leaders also refused to cooperate with requests to provide residents’ information.

Camera IconA controversial new land tax plan has been scrapped by Queensland following resistance by other state leaders, including NSW Premier Dominic Perrottet. NCA NewsWire / Gary Ramage Credit: News Corp Australia

In conceding the plan would have to be shelved, Ms Palaszczuk said it relied on the “goodwill of other states”.

“It actually came out of the treasurers meeting, so there were discussions held at that and it does rely on the goodwill of other states,” she said.

“If we can’t get that additional information, I will put that aside.”

Detractors claimed the plan would see investors paying thousands of dollars more in tax on their properties, which would be passed on to renters.

“The Opposition said from the second it was announced last year it was a renters’ tax that would drive up rents in the middle of a housing crisis,” shadow treasurer David Janetski said.

More to come.

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