The incident unfolded at a Ripley Road address in Ipswich about 1.30pm yesterday.
Two allegedly armed men arrived at the property, one in a Mitsubishi Magna and the other on a blue motorbike.
A 15-year-old boy who was home at the time raised the alarm before the pair were confronted by a 71-year-old man.
During the confrontation, two shots were allegedly fired.
“Dad came over and yelled at them to get out of the house,” a woman told 9News.
“Thankfully it was a terrible shot and missed Dad.”
The 71-year-old man suffered an injury to his arm after he was allegedly struck with the firearm multiple times.
He was taken to Ipswich Hospital in a stable condition.
A 27-year-old man was taken into custody yesterday afternoon.
A man hunt is under way for the second offender with police appealing for information into the incident.
Investigations are ongoing.