I’ve just joined this site and on briefly looking over it I didn’t see much about land taxes!! in doing the +ve cash flow idea with multiple ownership of properties, does this land tax vary in different states and when does/is it applicable to be paid??
ausclaud,each state has its own threshold,nsw is land value over $261,000 regardless of how many properties u have,it works on a sliding scale as the value increases,u are supposed to pay it when u do your tax return,its another rought from the govt.(shame on u bob carr)
Thanks demayn, I may be already over that limit then!!! i still have the last 3 years taxes to do so i’ll make sure my accoutant doesn’t miss this land tax ! now i need to learn to move my -ve geared properties into +ve!!!
Hey there,
261k you guys have it easy.
In Victoria fom 1st Jan 2003 the land tax zero-rate threshold was raised from 125k to 150k. yipee..
Only taxpayers who own land with a total unimproved value of 150k or more are required to pay land tax.
Cheers.
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