My properties, even thought mostly owned by the bank, are worth over 3M and they’re in Victoria.
Because of this, I am up for nearly 50k is taxes this year as a result :-( which I can’t afford.
How do you guys pay this? I am going to be struggling and have to sell up which I really didn’t want to do as I wanted to set up kids for the future.
What now? Any advice? Please help.
Borrow to pay it is one option.
Did you do some planning before purchase so you could minimise land tax?
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
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