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New On The Network Today
This feed is published daily with selected new or updated
content from across our network. For a list of network sites, many of
which feature daily news, see below. |
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| 09/09 New
Lowtax Editor Column, by Kitty Miv |
| 08/09 New
PBTG Editor Column, Caroline, PBTG editor |
| 07/09
Flaws Uncovered In UK PAYE Tax System, Tax-News.com |
| 06/09
German Cabinet Agrees 'Future Package', Tax-News.com |
| 03/09
South Africa Rejects Mining Tax, Tax-News.com |
| 02/09 New
Lowtax Editor Column, by Kitty Miv |
| 01/09 New
PBTG Editor Column, Caroline, PBTG editor |
| 01/09 International
Privacy and Security, Investors Offshore special feature |
| 31/08
Lowtax Belize, annual update |
| 27/08
IRS To Drop UBS Lawsuit, Tax-News.com |
| 26/08 New
Lowtax Editor Column, by Kitty Miv |
| 25/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 24/08
Uruguay Stays On OECD Grey List, Tax-News.com |
| 23/08 Don't
Forget Doha, And I Don't Mean The Tennis, Jeremy Hetherington-Gore
blog entry |
| 20/08
Ireland Plans Social Security Overhaul, Tax-News.com |
| 19/08 New
Lowtax Editor Column, by Kitty Miv |
| 18/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 17/06
Lowtax Cayman Islands, annual update |
| 16/08
Germany's Fiscal Court Seeks Property Tax Reform, Tax-News.com |
| 13/08 Jurisdiction
Special Focus: Antigua and Barbuda, Investors Offshore special feature |
| 12/08 New
Lowtax Editor Column, by Kitty Miv |
| 11/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 10/08 Brazil
Cuts Import Tariffs, Tax-News.com |
| 09/08 Ukraine
Tax Code Published, Tax-News.com |
| 06/08
France Plans Reform Of Property Tax Credit, Tax-News.com |
| 04/08 New
PBTG Editor Column, Caroline, PBTG editor |
| 02/08 Islamic
Finance - The New Mainstream Alternative, Investors Offshore special
feature |
| 28/07 New
PBTG Editor Column, Caroline, PBTG editor |
| 27/07 UK
Launches Raft Of Tax Consultations, Tax-News.com |
| 26/07 Fat
Tax On The Menu , Jeremy Hetherington-Gore blog entry |
| 23/07 Sarkozy
Seeks 'Fiscal Convergence' With Germany, Tax-News.com |
| 20/07 Singapore
Base For Tuvalu OIFC, Tax-News.com |
| 15/07 St
Vincent & The Grenadines, Investors Offshore special feature |
13/07 Tax-
News.com Jersey Review 2010-2011 |
| 12/07 Goodbye
To All That, Jeremy Hetherington-Gore blog entry |
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06/07 Hong
Kong Full PBTG Guide, added to Personal Business Tax Guide |
| 28/06
Lowtax Dubai, annual update |
| 18/06 Singapore
- Another Hong Kong?, Investors Offshore special feature |
| 15/06 Swiss
Parliament Approves UBS Agreement, Tax-News.com |
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08/06 Dubai
Full PBTG Guide, added to Personal Business Tax Guide |
| 04/06
Lowtax Panama, annual update |
| 01/06
Lowtax Luxembourg, annual update |
| 03/03
Personal Business
Tax Guide, PBTG, has launched! |
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| Providing essential tax news and information for globally
mobile artists, contractors, entrepreneurs, professionals, small businesses,
sportspersons and entertainers. |
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| Lowtax Network Sites |
| Lowtax Network Portal:
'Low-tax' business and investment in the top 50 jurisdictions covered in
exceptional detail. |
| Tax News: Global
tax news, continuously updated through the day. |
| Investors Offshore:
The independent offshore and alternative investment guide for expatriates
and the globally aware investor. Sponsored by HSBC
Bank International. |
| Law & Tax
News: Daily news and background data on tax and legal developments
for international business. |
| Offshore-e-com:
A topical guide to offshore e-commerce focused on tax and regulation. |
| Lowtax Library:
One of the web's largest and most authoritative business and investment
information sources. |
| US Tax Network:
The resource for free online US taxation information, covering: corporate
tax, individual tax, international tax, expatriates, sales and e-commerce
tax, investment tax. |
| NEW! Personal
Business Tax Guide: Providing essential tax news and information
on business for contractors, entrepreneurs, professionals, small businesses,
artists, sportspersons and entertainers. |
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| Queensland Land Tax Debate Postponed, Amid Protests |
by Mary Swire, Tax-News.com, Hong Kong
Thursday, February 25, 2010
The Queensland state government has delayed the debate in parliament on its
proposed changes to the state’s land tax laws following severe criticism,
particularly from the Property Council of Australia (PCA).
The state government had hoped to propose the Valuation of Land Amendment Bill,
but opposition mounted, particularly from business groups, against the sharp
rises to land taxes and council rates that could have been seen as a result
of the bill.
Queensland’s land tax is assessed on the taxable value of an owner's
total land-holdings, with a landowner’s primary residence usually being
eligible for an exemption or deduction. The taxable value is currently calculated
on the “unimproved value” of land, but the new amendments would
mean properties, while still being taxed on the value of the land, would also
be taxed on any improvements by the owner, including goodwill, leases and profits.
The PCA's Executive Director in Queensland, Steve Greenwood, said: “With
this new law, the Queensland government is rewriting the dictionary to change
the meaning of unimproved capital value to include improvements.” The
PCA has called the proposed legislation a “sneaky government tax grab”
against Queensland families, small businesses, farmers and property investors.
Following confirmation that the debate in the state parliament had been delayed,
the PCA said that it was a very welcome development and will allow the government
time for further detailed investigation and for engagement with relevant industry
representatives.
He pointed out that the PCA’s main concerns with the bill are threefold.
Firstly, he said, “there is the issue of change in the definition of unimproved
value, which is used to calculate land tax liabilities and council rates. The
proposed changes, which deviate from 60 years of settled principle, would lead
to very significant increases in land values across the state.”
“The second issue centres around the changes to the proposed objection
and appeal process – which the PCA considers burdensome, overly prescriptive,
constricting landowners appeal rights in a manner inconsistent with the principles
of natural justice and particularly biased against ‘mum and dad’
investors.”
“The third issue is the retrospectivity of the amendments, removing the
rights of 300 or so appellants who currently have cases before the Land Court,
which are unjust and infringe on the rights of property owners to have the certainty
to have their case heard based on the law of the day.”
“We now look forward to working with the Queensland government through
the above issues,” he added. The PCA is convinced that, if the bill goes
through unchanged, it would destroy property values and capital investment,
and lead to massive job losses in the business and property sector.
A comprehensive report in our Intelligence Report series
dealing with the issues raised by international property investment, and the possible
taxation implications raised by such purchases, with an account of the likely (and some less
obvious) potential countries for your consideration, is available in the Lowtax
Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp
and a description of the report can be seen at
http://www.lowtaxlibrary.com/asp/description_report15.asp
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