Land tax for property in trust

Discussion in 'Accounting & Tax' started by Jasper, 18th Mar, 2019.

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  1. Jasper

    Jasper Well-Known Member

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    31st May, 2017
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    VIC
    I received my land tax bill (Victoria). It includes properties A and B owned in my own name.

    Prior to Dec 2018, we set up a trust with corporate trustee. It has property C, and does not appear on my land tax bill.

    Question: When I ring the land tax office, will they add property C to my land tax, or will the corporate trustee receive it's own land tax bill for property C?

    Thanks.
     
    Jasper, 18th Mar, 2019
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    It's own
     
    Terry_w, 18th Mar, 2019
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  3. Paul@PAS

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

    Joined:
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    A trust is a separate owner. The OSR may issue the trustee with an assessment if the trust has registered and the value is greater than the threshold
     
    Paul@PAS, 18th Mar, 2019
    #3
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