Late last year I purchased in the name of my hybrid trust a block of units in NSW not knowing anything about the NSW land tax. Just found out yesterday the NSW state govt. removed the land tax threshold of $356K for trust and now the land tax is calculated from dollar one. To avoid paying the land tax I have a thought that to change the HDT to fixed trust (not sure what that is !) and set up another trust for future IPs. This will save me just under $2500 per year in land tax. Wondering what other people think or if you are in similair situation what will you do. For those experienced investors will you buy IPs in NSW with a trust ? Or if there are any accountants/solicitors expert in this area that I can contact.
Edit/Delete Messagettman,
Sorry to jump in on your topic but can someone also elaborate and tell me which organisation sets the land value and how can you find out what it is?
TIA
In nsw it’s the office of state revenue, web site http://www.osr.nsw.gov.au.
Other states have different names but something like SRO (state revenue Office ) in vic etc.
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