Queensland land tax home mover's exemption

From the 2014-15 land tax year onwards, the Queensland Land Tax Act 2010 will be amended to provide a new exemption.

It is for land that did not previously receive a home exemption with the owner in the process of selling their old home and moving into a new home, where certain conditions are met.

The home exemption currently previously only applied to one parcel of land at a land tax liability date.

However, this limitation resulted in liability where a person is selling their previous home and moving into a new home at the land tax liability date of 30 June.

The new exemption will mean that an earlier home in the process of being sold, or a new home in the process of being moved into is also exempted, provided that by the next land tax liability date the taxpayer is entitled to the home exemption for the new home, and the taxpayer no longer owns the earlier home.