Queensland Consolidated Acts Queensland Consolidated Acts(1) Land tax shall be payable by every owner of land upon the taxable value of all the land owned by the owner, and not exempt from taxation under this Act.
(2) The taxable value of all of the land of an owner is the amount of the relevant unimproved value of such land or, where such land comprises 2 or more parcels, the aggregate of the relevant unimproved values of those parcels respectively less any deduction allowable in accordance with this Act.
(3) In calculating the taxable value of all land owned by an individual (otherwise than in the capacity of trustee) who is not an absentee, an amount equal to the relevant unimproved value of the land, or the part of the land, being used solely for the business of agriculture, pasturage or dairy farming is to be deducted.
(5) In calculating the taxable value of all land owned by a person who is neither--
(a) an absentee or a company (other than a relevant proprietary company or an exempt charitable institution); nor
(b) in the person's ownership of the land, a trustee of a trust of which an absentee or a company (other than a relevant proprietary company or an exempt charitable institution) is a beneficiary in the first instance or through a series of trusts;
the amount (if any) under subsection (6) is to be deducted.
(5A) In this section--
exempt charitable institution has the meaning given by section 13A.
(6) The amount is an amount equal to the relevant unimproved value of the land, or the part of the land, being used solely for the business of agriculture, pasturage or dairy farming.
(6AA) A person is not entitled to a deduction under both subsections (3) and (5).
(6A) In addition to any deduction allowable under subsection (3), if land comprising 1 parcel is owned by an individual otherwise than in the capacity of a trustee and is used as the individual's principal place of residence but is not exempt under the provisions of section 13(1)(h), in calculating the taxable value of all land owned by the individual the allowable PPR deduction must be deducted.
(6D) Where a person (other than a person who is an absentee) is an owner of land in the capacity of trustee and that land comprises 1 parcel that is used as the principal place of residence of all the beneficiaries of the relevant trust who were such beneficiaries at midnight on 30 June immediately preceding the financial year in and for which the land tax is levied, in calculating the taxable value of all land of which the person is owner in that capacity the allowable PPR deduction must be deducted.
(6F) A trustee of a trust shall not be allowed the benefit of a deduction under subsection (6D) where--
(a) the trustee of another trust has obtained the benefit of such a deduction or the benefit of a deduction under section 11B(3A); or
(b) in calculating the amount of land tax payable by a company under section 11C(1) account was taken of a home unit which is used as the principal place of residence of all the beneficiaries of a trust;
and a beneficiary of the firstmentioned trust bears to a beneficiary of a trust referred to in paragraph (a) or (b) the relationship of mother, father, sister, brother, spouse, stepmother, stepfather, stepsister or stepbrother unless the commissioner is satisfied that the firstmentioned trust and a trust referred to in paragraph (a) or (b) were not established by or on the instructions of the same person.