In QLD there is a concession that applies to subdivided LAND held for resale at 30 June of the relevant year. This can reduce the land tax value of the land by 40%. Land tax subdivider discount | Environment, land and water | Queensland Government This ONLY applies if the land is held for resale. ie Not if you build and then sell. Can it be used if I buy a older property and split the block and sell off the new land ? Yes. Only to the new block. The link above has further conditions such as those which relate to marketing the land for sale. So it has some limited application. Can it help reduce the land tax on the older house property? No.