The Qld Office of State Revenue (OSR) has advised that it will be issuing a mail out to promote voluntary compliance for landholders with a land tax home exemption. Once granted to the taxpayer, the exemption will continue to apply until the property is sold, or the taxpayer advises the OSR that their circumstances have changed, or the Commissioner becomes aware of a change in circumstances. For example, a change in circumstance may include entering into any rental agreements for all, or part, of the property.

As part of the OSR’s compliance program, it will be contacting all taxpayers with a home exemption to ensure that it has the latest information regarding the exemption. The OSR proposes a phased approach commencing this month. The first phase will test 4 different letter formats/styles to see which is the most effective in engaging taxpayers who need to take action (ie let the OSR know of any change in their circumstances affecting the home exemption). Just over 12,000 letters will be sent tomorrow [Fri 9.1.2015]. The results of the trial will then be applied to the remaining individual landholders with a home exemption, before moving to the trusts and companies.

[LTN 4, 8/1/15]