At about 12.30am, police were called to an alleged domestic violence incident at a house on Cavill Way in Narangba.
There had been reports an armed man had been making threats.
The man approached officers and threatened them while carrying a gun.
Police say they shot the man in response.
Officers provided first aid and CPR but the man died at the scene.
Nobody else was injured and police say there is no ongoing risk to the community.
An investigation into the shooting is underway.
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