All Topics / Finance / NSW Land Tax on properties owned by a Ltd company

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  • Profile photo of CattleyaCattleya
    Participant
    @cattleya
    Join Date: 2008
    Post Count: 121
    May 18, 2015 - 1:24 am

    All,

    I am wondering if you can help me with this question:
    An Ltd company (1 shareholder) owns flat X in NSW.
    The shareholder also owns an (investment) flat Y in NSW.
    Would the shareholder also pay land tax on flat X?

    I know the answer is yes for investment properties co-owned by another person. Just not sure if it is in a company setting.
    Your guidance is much appreciated.

    Many thanks,
    Catts

    Cattleya

    Here to learn the ropes of property investing & share knowledge, not trying to sell anything at all.

    Profile photo of crjcrj
    Participant
    @crj
    Join Date: 2004
    Post Count: 618
    May 18, 2015 - 6:37 am

    No you will not be grouped.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    May 18, 2015 - 3:08 pm

    A company is treated as a separate person and gets its own land threshold separate to that of its shareholders.

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

    Profile photo of CattleyaCattleya
    Participant
    @cattleya
    Join Date: 2008
    Post Count: 121
    May 20, 2015 - 2:41 am

    Thank you crj and Terry.
    I had decided to look to Brissie, but now changed my mind.

    Many thanks,
    Catts

    Cattleya

    Here to learn the ropes of property investing & share knowledge, not trying to sell anything at all.

Viewing 4 posts - 1 through 4 (of 4 total)

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