Could someone please provide me with some details regarding land tax[?] e.g. In what States/Territories does it apply; how much is it; when is it payable and to whom; does it affect local council rates[?]
You can go to the Office of State Revenue and Valuer Generals Office to find out the particular threshold in your state territory.
You need the last Valuer Generals certificate, they’re done every 4 or 5 years, I think. This is what determines the value of the land for council rates and land tax. Don’t use market value.
Can’t give you any links, my internet connection has decided to go stupid on me.
Michael
Hi Daisii
You can find these info for all states at http://www.ato.gov.au/individuals/content.asp?doc=/content/33834.htm&pc=001/003/031/002&mnu=1162&mfp=001/002&st=&cy=1
I just know for IPs there is $261,000 threadhold for landtax on unimproved land value in NSW, no threadhold in ACT.
Cheers
Huey
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