Wednesday, September 16, 2009

Land Tax FAQ

Here are the questions answered on the FAQ (Frequent Questions) page on the NSW Office of State Revenue website:

  • Do I have to pay land tax on my principal place of residence?

  • Who is considered to be a land owner for land tax purposes?

  • How is land tax calculated?

  • Do I have to pay land tax on a property that isn't earning any income?

  • Do I have to pay land tax on properties outside of NSW?

  • If I sell land part-way through a year, do I get a refund of part of the tax paid?

  • Do I have to pay land tax if, on 31 December I am in the process of selling my principal place of residence but I have already purchased a new residence?

  • Do I have to pay land tax on my newly constructed residence if it is not ready for occupancy until after 31 December?

  • Do I receive a rebate if my land is rented at 31 December and I occupy it as my principal place of residence after this?

  • Am I liable for a previous owner's unpaid tax?

  • How does the threshold work if I own several land items?

  • What happens if my land ownership changes?

I received a land tax assessment in 2005 but have not received an assessment in any other year. Why is this?

In the 2005 tax year, the land tax threshold was abolished and a progressive tax rates scale introduced. For years prior and subsequent to 2005 there is a land tax threshold. This means if the combined land value of your taxable land was under this threshold you are not liable to pay land tax.

Registering for land tax
When do I have to submit a land tax registration?
How many registrations do I need to submit if I own land in various partnerships?
The notice of assessment
What do I do if the information on my notice of assessment is incorrect?
How am I assessed if I own some land individually and some land with other owners?
Why does my land appear on more than one assessment - am I being taxed twice?
Other headings for questions
Clearance certificates
Exemptions and concessions
Companies, concessional companies and trusts