Coronavirus land tax relief

You may be eligible for one or more of the following land tax relief measures:

• a land tax rebate reducing land tax liabilities by 25% for eligible properties for the 2019-20 assessment year
• a waiver of the 2% land tax foreign surcharge for foreign entities for the 2019-20 assessment year
• a 3-month deferral of land tax liabilities for the 2020-21 assessment year.

You do not need to apply for the foreign surcharge waiver or the 3-month deferral. However, you will need to apply for the land tax rebate. 

Eligibility for the land tax rebate 
You may be eligible for the land tax rebate if at least one of the following circumstances applies to you.

• 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 the coronavirus (COVID-19) pandemic.
  • You will provide rent relief to the affected tenant(s) of an amount at least commensurate with the land tax rebate.
  • 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 for lease.
  • Your ability to secure tenants has been affected by the COVID-19 pandemic.
  • 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 for the land tax rebate under both the above circumstances, it is expected you will apply the rebate paid firstly to provide rent relief to your tenants. You can then apply any remaining rebate to your own financial obligations (e.g. in relation to debt and other expenses).

The land tax rebate will only apply to each property that meets the above eligibility requirements and conditions, rather than the rebate applying to entire taxable landholdings.

Where there are multiple tenants for a single property, including mixed-use developments, if the eligibility requirements and conditions are met for at least one tenancy, then the whole property is eligible for the land tax rebate.

The land tax rebate does not need to be repaid if the eligibility requirements and conditions are met.

You can apply for the land tax rebate up to 30 June 2020.

How to apply?

1. Log onto OSR Online (or create an account if you don’t already have one).Your 2019–20 land tax assessment notice will have the details of your land holdings. (If you have not received your notice, you can find it under the Assessments tab once you log onto OSR Online).
   
2. Select My Land.
3. Select Manage details.

To receive the rebate, you must include or update your contact details (including email and telephone number) and bank details so that we can contact you if necessary and pay the rebate into your nominated bank account.

1. Select Manage exemptions then Lodge new exemption.
2. Select COVID-19.
3. Complete the application by certifying your eligibility and selecting the applicable land parcel(s).
4. Complete the declaration.

To access future assessment notices electronically through OSR Online (rather than by post), select Assessments. If you select this option, you will receive an email when an assessment is available.If you have not yet paid your land tax assessment for 2019-20 or are paying by instalments, and are eligible for land tax relief, we will issue a reassessment and adjust your instalment payments.

New to OSR Online?
If you don’t yet have an OSR Online account, you will need to create one and include your contact and banking details to enable you to claim the land tax rebate.

You will need:

• a personal email address (not a generic account for a company or trust)
• 2 valid Australian identification documents (e.g. driver licence, Medicare card).

If you don't have Australian documents or cannot provide 2 valid document types:

• after creating your OSR Online account, select I am unable to complete the above identity verification.
• enter your details and attach and submit copies of your foreign equivalent documents so that your identity can be verified.

You can access OSR Online for another person or entity to view or act on their behalf (e.g. if you are a director of the land holding entity or an accountant authorised by the land holding entity).

For more assistance call 1300 300 734 or email landtaxrelief@treasury.qld.gov.au

The Money Edge | Bundaberg