You pay landholder duty when you make a relevant acquisition in a landholder.
Landholder duty was introduced on 1 July 2011 to replace land rich duty.
A landholder is a corporation or listed unit trust that has land-holdings in Queensland with an unencumbered value of $2 million or more.
There are 2 types of landholders:
- private landholder - an unlisted corporation (i.e. a company not listed on a recognised stock exchange)
- public landholder - a listed unit trust or listed corporation.
Land-holdings commonly include:
- an interest in land, other than
- a security interest
- an interest in a trust
- anything fixed to the land (e.g. pipelines, plant and equipment), whether or not the landholder has an interest in it
- an interest in land, including anything fixed to the land, that is the subject of a purchase or sale agreement
- the land-holdings of a subsidiary of the landholder
- land-holdings held on trust by the landholder, where the landholder (or a subsidiary of the landholder) is a beneficiary of the trust
- land-holdings held by the landholder for a partnership, regardless of the interest that the landholder has in the partnership.
This guide explains what a relevant acquisition is, how landholder duty is calculated and when an exemption may apply.