So, I forgot to pay land tax from Jan to June this year. I got confused because the notices are calendar year and not financial year as I assumed. As I haven't paid it for 6 months, I assume I can't claim this amount on tax. I'll have to wait until next financial year to claim it as I've paid it in July. Is that correct? Thanks.
Claim in the financial year incurred not paid! but you can't claim it if you haven't paid it. Tax Tip 8: Forgotten land Tax Tax Tip 8: Forgotten land Tax
Terry, are you saying the $690 I paid today (for Jan and Jun 2017) cannot be claimed via tax at all?!
You might have to go and amend the previous tax return for 2016-17, if you have lodged it, otherwise claim in that.
I havent lodged 16-17 return yet, so it seems I can claim it in that: "When you receive land tax assessments in arrears, the amount of land tax is not deductible in the income year in which you pay the arrears. The land tax amounts are deductible in the respective income years to which the liability for the land tax relates." -https://www.ato.gov.au/Forms/Rental-properties-2014-15/?page=9#top Thanks
You can claim it in the 2017 return. Even if its not paid...But the ATO could decline the deduction if its unpaid so better to pay now and claim in June 2017 tax too
