NSW LAND TAX

Viewing 5 posts - 1 through 5 (of 5 total)

Marty_boyo
Participant
@marty_boyo
Join Date: 2002
Post Count: 43
January 26, 2006 - 4:40 am
I currently own an IP in Armidale NSW which is on 700 sq. m appx.
The current value is about 200K.
Do I still have to pay land tax. I thought the NSW goverment had abolished Land Tax for properties up to 300K?
Ta[strum]
Derek
Member
@derek
Join Date: 2004
Post Count: 3,544
January 26, 2006 - 5:05 am
Hi Marty,
NSW threshold in 2006 is $352K – note the threshold relates to the combined value of land held and not on an individual property basis.
See http://www.osr.nsw.gov.au/pls/portal/docs/page/downloads/other/landtax_factsheet_2006.pdf
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958
camder
Participant
@camder
Join Date: 2004
Post Count: 170
January 28, 2006 - 9:20 am
I believ for the December 31st just passed there is no thresh-hold, therefore land tax is on amount from $0 but it is of course on the Valuer General’s value -not the price of the land or whatever and I think about 0.4%. No doubt someone will correct me if I am wrong.
Cheers Len
Wake
Participant
@wake
Join Date: 2003
Post Count: 123
January 30, 2006 - 12:11 am
Hi All
Official letter from OSR advised 2006 threshold for NSW is $330k. Marty-boyo, if your land is on approx 700 sqm, the $200k value you refer to is the property value. The land component will be less than $50k. I have $1000sqm in Armidale and the 2006 value from OSR is $37K.
Breathe easy.
Regards
Wake
Derek
Member
@derek
Join Date: 2004
Post Count: 3,544
January 30, 2006 - 1:06 am
Hi Marty,
Might be worth a phone call – three different answers.
I got my figures from an OSR fact sheet. It is possible $352K is the figure for land owned as at Dec 31, 2006. Wake got her figures from an official letter from the OSR [bigeyes] – go figure.
Hmmmm – maybe they have mates rates for some people.[exhappy]
Derek
[email protected]
http://www.pis.theinvestorsclub.com.au
0409 882 958