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$750k - $600k = $150k. $150 x 1% = $1500 Plus $500 = $2000 all up. per year So yes that is correct if you owned the property. In NSW it would be $750k - $432k = $318k $318k x 1.6% = $5,088 Plus $100 = $5,188 all up per year In VIC $750k - $600k = $150k $150k x 0.5% = $750...

I don't think either would result in land tax in QLD.

No, it is different in QLD. Co owners are assessed separately s 22.