All Topics / Legal & Accounting / Land Tax in Vic

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  • Profile photo of hawkeye12hawkeye12
    Member
    @hawkeye12
    Join Date: 2011
    Post Count: 4
    February 17, 2012 - 12:00 pm

    Hi,
    I recently moved out of my PPOR in Vic and now rent it out and derive an income from that place. I now rent myself elsewhere so was thinking my PPOR (now rented out) is eligible for the 6 year CGT period. However I was suprised recently to receive a Land Tax bill. When I contacted SRO they advised it is legit as although it is my PPOR I am receiving an income which means it attracts land tax.
    Can anyone confirm?

    Profile photo of Scott No MatesScott No Mates
    Participant
    @scott-no-mates
    Join Date: 2005
    Post Count: 3,856
    February 17, 2012 - 12:06 pm

    CUT is a federal tax, Land Tax is a state tax. If you aren’t living in it on census date you pay land tax.

    Profile photo of hawkeye12hawkeye12
    Member
    @hawkeye12
    Join Date: 2011
    Post Count: 4
    February 17, 2012 - 12:13 pm

    Thanks for that. I was hoping otherwise. When I was reading the objection forms it noted a section on PPOR as grounds for objection. I suppose I had been thinking in terms of PPOR for CGT.

    Profile photo of TerrywTerryw
    Participant
    @terryw
    Join Date: 2001
    Post Count: 16,213
    February 18, 2012 - 9:29 am

    What about the temporary absence provisions under the Land Tax Act (VIC)
    see s56
    http://www.austlii.edu.au/au/legis/vic/consol_act/lta200590/s56.html

    Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
    http://www.Structuring.com.au
    Email Me

    Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au

Viewing 4 posts - 1 through 4 (of 4 total)

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