LAND TAX – It’s That Time Of Year Again
Well it’s that time of the year again and if you own Investment Properties, a Principal Place of Residence that has been rented out (even temporarily), or land, or a holiday house, then you need to consider the implications of land tax on your investment.
Whether the property is an investment property, or your principal place of residence if the property is rented out, then you will need to pay land tax with the exception that if it’s an investment property or a holiday home (second home) or a block of land, these are still liable to land tax even if they are not rented out.
Land tax is calculated based on the Unimproved Value of the land (not property value) held on the one day and they are all different from State to State
Disclaimer: This article contains general information. Before you make any financial or investment decision you should seek professional advice to take into account your individual objectives, financial situation and individual needs.