Hi everyone, its been a while since I last wrote but I need some friendly advise, my problem is that I have two of my IP in one trust and today I received a letter from Queensland government advising that I have to pay damn land tax, I know that I could try and dispute the valuations but they are pretty accurate so I cant argue that point, so I am just asking anyone if there is a way around this!! any advise would be much appreciated, the amount I have to pay is $1600. It amazes my how if you become successful in this great country that you get penillised with taxes etc……..Bloody annoying.
You have been assessed as owing land tax as the amount of land you own exceeds the threshold. A valuation would have been sent to you months ago and the period to object has passed (usually 60-90 days). Grin and bear it. Object on proper grounds in 2-3 years time when the next round of valuations is due.
Diversify into other states where you can hold 2-3 properties in each state and still be under the radar.
SELL one and buy another one in another state with a threshold for land tax. .
Prince Nottingham is well and alive in Australia.
GST was suppose to replace all other taxes . Hmmmm
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