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Land Tax<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office">

What is land tax?

Land tax is a tax levied on the owners of land in NSW as at midnight on 31 December of each year. In general, your principal place of residence (your home) or land used for primary production (a farm) is exempt from land tax. You may be liable for land tax if you own or part-own:

  • vacant land, including vacant rural land
  • land where a house, residential unit or flat has been built
  • a holiday home
  • investment properties
  • company title units
  • residential, commercial or industrial units, including car spaces
  • commercial properties, including factories, shops and warehouses
  • land leased from state or local government.

Rates and thresholds

2011: The Valuer General has determined that the land tax threshold for the 2011 land tax year is $387,000. The premium land tax threshold for the 2011 land tax year is $2,366,000.

2010: The Valuer General has determined that the land tax threshold for the 2010 land tax year is $376,000. The premium land tax threshold for the 2010 land tax year is $2,299,000.

For more detailed information please visit- www.osr.nsw.gov.au

 

Disclaimer:  Whilst every effort has been made to ensure the accuracy of this information it is not to be relied upon in making a decision to purchase a property, a parcel of land or committing to a building contract. Prospective buyers are strongly advised to seek independent legal advice or to make their enquiries to- www.osr.nsw.gov.au