8. Rights of small business and property owners
Queensland Law Society supports reforms, which will streamline processes and deliver equitable outcomes for small business and property owners in Queensland.
Queensland Law Society calls for a commitment:
- To amend the Additional Foreign Acquirer Duty (AFAD) framework to remove the double imposition of duty, which can occur when a foreign investor acquires an interest in a landholder corporation or trust that holds AFAD land. The imposition of double-duty on a purchase will affect investment in Queensland
- To reform the legislative framework under which local governments exercise a power of sale to recover unpaid rates so that local governments are required to obtain market value when selling. A reformed approach should also include a specific and consistent notification and advertising process
- To reform the duty position in Queensland to reflect the position in most other Australian states, so that duty is not payable on non-land business asset transfers
- To abolish all duty payable on the restructure of a business where the beneficial ownership of the entity does not change, such as the restructure of a partnership or individual owner to a corporate structure.
Queensland State Election - 2017 Call to Parties Statement
Download the 2017 Call to Parties Statement