As many investors may be aware Land Tax reform in NSW has had a big impact on property investors. I would like to get members feedback on how they have dealt with this new unexpected liability.
Cheers
Steve
One way I’ve stopped paying any additional land tax is, stopped PI in NSW, moved on, it’s a big world out there. i.e. taken my business elsewhere.
How have I dealt with existing PI’s? – good question, unfortunately there doesn’t seem to be a way around avoiding paying it, yet… election time may assist….
Some people have discussed on this forum increasing the rent to cover the cost.
Cheers,
GeoffBOne way I’ve stopped paying any additional land tax is, stopped PI in NSW, moved on, it’s a big world out there. i.e. taken my business elsewhere.If you are still investing in property, land tax is levied in all states.
Ultimately you may look to pass on these costs to rents, however the market (ie supply and demand) will ultimately determine what is a fair market rate. Increasing your rent to compensate any increase in costs eg land tax or interest rate rise, may price you out of the rental market for your property.
Woodsman,
If you are still investing in property, land tax is levied in all states.
Not if you invest in NZ or USA.
Cheers
GeoffBHopefully election time will see an amendement in this disastrous tax. All NSW subscribers should get behind the politiacian who will abolish or amend this tax. As it seems the government is trying to force people to put their money into super by making it more costly to invest in property. Who knows what may be next they may abolish the right for property owners o claim deductions on negatively geared property. They may even increase the tax rate for postively geared income. It is definetlty something to think about. As all these reforms are going against the property ivestor who has had insight to invest for their future. As a forum we need to get together & think ahead.
Steve
Between stamp duty, land tax and where the housing market is heading I am starting to question my decision to buy a number of properties over the last couple of years.
Well I am still thinking about what to do next….hmmm… usana direct marketing [biggrin]?
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