Queensland police said officers were called to a home at Little Crescent in Ayr around noon yesterday.
They said emergency services found a man and woman, both in their 80s, with critical head injuries after falling from the lift on to a concrete surface.
The husband and wife were driven from the Burdekin Hospital for critical treatment at the Townsville University Hospital.
Police said they both died during the night.
An investigation is under way into how the incident happened, but police believe the elevator malfunctioned.
The Ayr Criminal Investigation Branch is analysing the scene.
Police said a report would be prepared for the coroner.
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