Foreign owners of investment property in Queensland are to be slugged with a 1.5 percent land tax surcharge on any property which they hold which has a value of $350,000 or greater as the government in that state seeks additional revenue raising measures in order to maintain a wafer thin operating fiscal surplus.

Announcing the measures in its 2017/18 State Budget, the Queensland State Government says the measures represent a fair contribution to the tax base in that state from which they benefit as the value of their properties benefits from taxpayer funded infrastructure. “Absentee owners benefit from a high standard of services…