Four people have reportedly been injured during a shooting incident in North Queensland.

Police have taken a man into custody after being called to an address at Rangewood, in Townsville, about 8am on Wednesday.

One woman is believed to have serious injuries, with three other people injured but stable.

UPDATE: 

A woman has been shot in the head during a confrontation over an outstanding debt/

The woman was taken to hospital in a serious condition.

A man also injured in the incident was taken to hospital in a stable condition.

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The shooting was sparked by a civil debt and a failed business, police said.

AAP