Land tax deduction

In Vic, I get bill in ~May 19. Not payable until 13 July 19. I pay full amount on 12 July 19. Can I claim full deduction in the tax year ending 30th June 19?

Am I supposed to claim full amount for tax year ending 30th June 20?

Cheers

 

Just pay it before 30 June and claim in the same year. Why wait 12 months to claim?

 

no

 

Sorry - which question was the No answer to?

 

Can I claim full deduction in the tax year ending 30th June 19?

 

Why not. It was incurred in the 2019 year ? Dec 2018 was his liability date.

 

Yes, I think you might be right. 31 Dec taxing date in vic. so this would apply

Tax Tip 8: Forgotten land Tax Tax Tip 8: Forgotten land Tax

 

Thanks for the replies - I find this page from ATO - Rent confusing.

I was not sure if you are supposed to apportion the 2018 statement between the 17/18 and the 18/19 financial year.

 

No you dont

 

Doesnt matter when its paid as much as when its incurred. 31 December 2018 is the taxing date. Land tax is not a calender year liability but one which occurs at midnight on the relevant taxing date which can vary state to state. That is when the tax is incurred. Deductible in 2019.

This same view means arrears maybe cant be claimed when it paid years later. We see this when property sells and a clearance certificate occurs and the taxpayer gets assessed 4 years. Maybe only 2 sometimes 3 and rarely 4 can be claimed by amending prior years. Often this means the non-deductible can only be used to reduce CGT payable