Land Tax & Duty Strategy

Discussion in 'Accounting & Tax' started by Paul@PAS, 13th Jun, 2017.

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  1. Paul@PAS

    Paul@PAS Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
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    Sydney
    Anyone who is not an Australian CITIZEN may wish to explore a tax strategy of becoming a dual national if they own any AU property personally whether alone or with others (including a home). Not all countries allow this but some do eg NZ.

    The Victorian and NSW land tax and stamp duty surcharges are just the tip of the iceberg and it can be expected other states will follow and adopt uniform policies to tax non-citizen property. While some may seem to be excluded eg perm residents and NZ residents it isnt always the case and at any time further changes may broaden the tax base further.

    Individuals should seek legal advice on the tax and other impacts of doing this. Becoming a AU citizen in itself does not trigger any tax issues. It may safeguard others.
     
    EN710 likes this.