Property Investment News | Land Tax

Land tax is payable each year; the amount you pay is usually based on the value, type and its use at the end of a set period.

You may have to pay land tax if you own, or jointly own:
– vacant land, including rural land
– land where a house, residential unit or flat has been built
– a holiday home
– an investment property or properties
– company title units
– residential, commercial or industrial units, including car spaces
– commercial properties, including factories, shops and warehouses
– land leased from state or local government.

tax-time

Land tax applies regardless of whether income is earned from the land. Foreign investors may also be subject to certain surcharges – don’t get caught out thinking you are an Australian Citizen and this means you are not a foreign investor…. If you have not lived in Australia for more than 200 days in the last 12 months you are consider a Foreign Investor and will incur surcharges.

If you have any questions, or need clarification on any of the above, please contact Anna Marten, our Head of Property Management, on 9651 1666 or anna@guardianrealty.com.au.

Important note: Clients should not rely solely on the content of this newsletter. All endeavors are made to ensure the content is current and accurate however, we make no representations or warranties as to the accuracy, reliability, completeness, or currency of the content. Readers should seek their own independent professional advice before making decisions.

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