Basics of Victorian Land Tax
An introduction to Victorian land tax Up to 2.25% land tax is payable each calendar year (sec. 8 LTAV 2005) by the owner or deemed owner of Victorian land (sec. 10 LTAV 2005) on the aggregated taxable value of Victorian land as at 31 December of the preceding year (sec. 19 and sec. 35 LTAV […]
Foreign Land Tax – Western Australia
Land Tax – Western Australia – Foreign Entities At this time there is no implemented surcharge after the proposal was defeated in parliament. Generally the land tax position in Western Australia is: Rates Aggregated Taxable Value of Land Rate of Land Tax Not Exceeding $0 $300,000 Nil $300,001 $420,000 Flat rate of $300 $420,000 […]
Foreign Land Tax – Queensland
Land Tax – Queensland – Foreign Entities When addressing land tax in Queensland, where there is a foreign party that owns the assets, certain rules need to be adhered to. In Queensland a person is classified as a foreign person if they are not an Australian citizen or permanent resident. Foreign people and entities in […]
Foreign Land Tax – Victoria
Surcharge for absentee owners of land All property in Victoria is subject to land tax, unless an exemption applies or the property is below the threshold (which is currently $250,000). An assessment is made on the value of all your taxable property at midnight on 31 December each year to determine the amount of land […]
Foreign Land Tax – Northern Territory
At present the Northern Territory does not subject landowners to any form of land tax. This exemption extends to foreign individuals and corporate entities. Although, residents of the Northern Territory are obligated to pay Stamp Duty on the acquisition of a home, land or a business property. There appears to be a growing interest from […]
Foreign Land Tax – Tasmania
Foreign Persons A foreign person in Tasmania includes a foreign corporation, foreign natural person and a foreign trustee. Although there is a Foreign Investor Duty Surcharge for Stamp Duty in Tasmania, foreign entities aren’t subject to any additional foreign land tax surcharges at this time. Land tax in Tasmania is an annual tax payable by […]
Foreign Land Tax – ACT
As at 1 July 2018, a foreign ownership surcharge is imposed under the Land Tax Act 2004 on residential property owned by a foreign person including a foreign individual, corporation or trustee of a foreign trust. In the Australian Capital Territory if you’re not an Australian citizen or resident of Australia, you are considered […]
Foreign Land Tax – South Australia
South Australia has not implemented a foreign resident land tax surcharge at this time. However a purchaser of an off the plan residential property is not exempted from land tax if they are a foreign resident. Generally the land tax structure in South Australia is as follows: Rates Total Taxable Site Value Amount of Tax […]
Foreign Land Tax – NSW
We are looking at the imposition of foreign land taxes across the Australian jurisdictions. Foreign ownership in New South Wales occurs when a foreign entity purchases residential land. When dealing with land tax in New South Wales if there is a foreign party that owns the assets, specific rules need to be followed. In New […]
Welcome to C&D Restructure
The team at C&D would like to welcome you to our website. Whilst the name is new the business remains the same. Lead by Craig Dangar, we continue to offer comprehensive support for our professional partners.