Rental arrangement categories for state land tenures

16 - Divestment

Category 16 covers leases, licences and permits to occupy over land located at a place ordinarily known as a ‘Economic Development Queensland industrial estate’ or over land whose most appropriate tenure and use has been assessed as being freehold.

How your rent is determined

The annual rent is set at 7% of the most recent land value, as prescribed by the Land Regulation 2020. The minimum rent as prescribed by the Land Regulation 2020. This is indexed annually, with the new minimum rent coming in effect from 1 July each year.

Due date

Annual rents are due on 1 September of the financial year for which the rent is payable. Invoices are normally issued before the end of July.

Penalty on late payment

If you do not pay the rent within the time prescribed on the invoice, you will be required to pay penalty interest on the rent outstanding until the day the rent is paid. This is in addition to the rent.

Penalty interest rate

The penalty interest rate, accruing daily and compounding monthly, is 2% above the Suncorp-Metway business variable lending base rate as at 1 July of the annual billing period.

Hardship assistance

If you hold a term or perpetual lease, a road licence or occupation licence and are suffering financial hardship, you may be eligible to defer your payment. Holders of permits to occupy are not eligible.

If your application is successful, you will be allowed to defer all or part of your rent for the rental period. See deferring your rent or instalment for more information.

Note: No interest will be charged on the deferred rent.

Related information

Rental arrangements are made in accordance with the Land Regulation 2020.

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Last updated:: 1 July 2021

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