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Update to Land Tax and Payroll Tax Relief for Queensland

The QLD Government has recently announced an extension of the land tax rebate for the current financial year 2020-21.  If you are a landlord that leases all or part of your property you may be eligible for relief.

 

This assistance includes

  • an automatic three-month deferral on payments due for 2020-21,
  • rebate to reduce liabilities by 25% for the 2019-20 and 2020-21 assessment periods.

 

To be an eligible landlord one of the following needs to apply:

  • You are a landowner who leases all or part of a property to one or more tenants and all the following apply.
    • The ability of one or more tenants to pay their normal rent is affected by coronavirus (COVID-19).
    • You will provide rent relief to the affected tenant(s) of an amount at least commensurate with the rebate (in addition to any relief provided in relation to a land tax rebate received or to be received for the 2019–20 land tax assessment year).
    • You will comply with the leasing principles even if the relevant lease is not regulated.
  • You are a landowner and all the following apply.
    • All or part of your property is available and marketed for lease.
    • Your ability to secure tenants has been affected by COVID-19.
    • You require relief to meet your financial obligations.
    • You will comply with the leasing principles even if the relevant lease is not regulated.

 

If you are eligible under both circumstances, it is expected you will apply the rebate firstly to provide rent relief to your residential or commercial tenants. You can then apply any remaining rebate to your own financial obligations (e.g. in relation to debt and other expenses).

Applications for the land tax rebate must be lodged by 31 October 2020 (2019-20 assessment) or 26 February 2021 (2020-21 assessment).

For more information, please check the Queensland Government website.

 

Coronavirus payroll tax relief

Updates to the payroll relief include additional refunds. That means businesses who paid payroll tax for July and August 2020 can apply for a refund. The closing date to apply for this rebate is the 30th of October.

Furthermore, if you have deferred your payments to a later time this year (3rd of August), the due date has been further extended until January 2021

If you have already been approved to defer payment, you do not need to reapply for the revised due dates – your due date will be automatically extended until January 2021. The new due date will appear in your year-to-date returns in OSR Online.

If you have any questions about your eligibility or ongoing applications for the Land Tax or Payroll relief, please don’t hesitate to contact one of our Tax Specialists below or book an appointment online. We’re here to help.

Dean Vane:  D.Vane@uhyhnseq.com.au

Lauren Steinheuer:  L.Steinheuer@uhyhnseq.com.au

Malcolm Barkle:  M.Barkle@uhyhnseq.com.au

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