As we anticipated, the Queensland Government has recently announced it will introduce guidelines for an exemption to the foreign land tax surcharge for some taxpayers.

While the guidelines are not yet available, the exemption will reportedly mirror Victoria's controlling interest regime and is likely to apply to listed companies, widely held trusts, developments, and business operations deemed to make a material economic contribution in Queensland.

Our Real Estate team is watching this space closely and will keep you up to date with further developments.