Land Tax is surprisingly, often overlooked and it can be a shock if you suddenly receive a Land Tax Assessment for several years.

Does Land Tax Apply to My Property?

This tax is levied by the state government and the law varies depending on which state your property is.  In NSW the use of the property determines whether the Land Tax applies.  It is calculated based on the Valuer General’s valuation of your land, which you can object to if addressed in the right time frame and grounds.

What Exemptions Apply?

The amount of Land Tax charged in NSW depends on the use of the property.  Most principal residences are exempt but there are important details which you need to be aware of.  It is important to note the concept of a principal residence differs between the Land Tax legislation and the Capital Gains Tax legislation.

Primary producers and other landholders may have reduced rate of Land Tax applied.

We can help you with:

• Finding out if Land Tax applies to your properties
• Initial Registration forms
• Land Tax Variation forms
• Special applications to the Office of State Revenue regarding the tax treatment of properties
• Advice on all Land Tax matters

Contact us today.

Disclaimer:
The above services are provided by Stanley & Stewart Accountants Pty Ltd ABN 76 114 691 673, trading as Stanley & Stewart Chartered Accountants, a company that is not licensed to provide financial planning services.
Any financial planning services required are provided by Stanley & Stewart Financial Planning Pty Ltd ABN 97 611 554 299, an Authorised Representative of Politis Investment Strategies Pty Ltd ACN 71 106 823 241 AFSL No 253125.
Liability limited under a scheme approved by Professional Standards Legislation.