I have just read the book 0 to 130 properties in 3.5 years and was interested in the ideas presented HOWEVER I was wondering how much land tax was paid in say the third year when so much property is owned. I realise that some reduction could be achieved by having properties in various States of Australia but are there any other options open to us property investors to minimise this tax.
Not really
Just think of it as an expense like insurance or rates.
Terryw
Discover Home Loans
North Sydney
[email protected]Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Just think of it as a success tax! (I guess most taxes are)
Doesn’t ease the burden of paying it, however, the land component of your property will drive the capital growth and future wealth. So the more land, the more growth, more wealth…..yeah, more land tax…
James
Hi mky,
Land tax can be avoid for only so long. Sooner or later (in some states very very soon) you reach the threshold at which land tax applies.
To a certain extent you can distribute the ownership of your properties across different states to delay the onset of land tax.
Be aware that land tax is a levy imposed on the unimproved value of land – it doesn’t include the buidling’s value (yet?)
Derek
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