THE State Government has moved to streamline foreign surcharge relief rules in a bid to unlock new investment, accelerate construction and increase housing supply across Queensland.
Under reforms delivered through the 2025-26 Budget, the Government has simplified and expanded relief arrangements for additional foreign acquirer duty (AFAD) and the land tax foreign surcharge (LTFS), cutting red tape and providing greater certainty for property developers and investors.
The changes are designed to increase the flow of capital into residential development, support faster project delivery and help ease the housing pressures that have built up after what the Government describes as a decade of underinvestment under Labor.
Key changes to the relief framework, effective from now, include lowering the minimum number of dwellings required to qualify for relief from 50 to 20, expanding how corporate groups and related entities are assessed, and introducing a new pre-approval process for residential developers.
Clear service standards have also been published, with applications to be reviewed within 30 working days for frequent applicants and renewals, and within 60 days for new applicants.
Treasurer and Minister for Home Ownership David Janetzki said the reforms send a strong signal that Queensland is open for business and serious about boosting housing supply.
“The Government is continuing to take action that will increase housing supply and deliver more homes for Queenslanders,” Mr Janetzki said.
“By cutting red tape and providing certainty, we are making Queensland a more competitive and attractive destination for development and investment.”
The reforms were shaped through consultation with industry via the re-established Property Consultative Committee, with the Government arguing that previous delays and policy settings had dampened investment and slowed the delivery of new homes.
Property Council of Australia Queensland Executive Director Jess Caire said Queensland had missed out on an estimated 32,872 dwellings worth $17.8 billion since the foreign tax regime was introduced in 2016.
“Today’s announcement shows leadership and a genuine commitment to ensuring Queensland is open for business,” Ms Caire said.
“These taxes have constrained housing supply and economic growth, and many of those affected are Australian-based developers building the homes Queenslanders need.”
Urban Development Institute of Australia Queensland Chief Executive Officer Kirsty Chessher-Brown said the more pragmatic approach would help get homes to market sooner.
“A streamlined system that provides greater certainty prior to land acquisition is critical to attracting investment,” she said.
“Reducing uncertainty and delays ultimately lowers costs and supports more housing delivery for the Queensland community.”
The Government says the reforms are a key step in restoring confidence.
