Land tax

Discussion in 'Commercial Property' started by Illusivedreams, 23rd Jul, 2018.

Join Australia's most dynamic and respected property investment community
  1. Illusivedreams

    Illusivedreams Well-Known Member

    Joined:
    3rd Oct, 2017
    Posts:
    2,457
    Location:
    Sydney
    Hey guys

    What is the Land Tax implications in relations to commercial property.

    Is their a difference between rese and commercial/industrial and I think I know agricultural.
     
    Illusivedreams, 23rd Jul, 2018
    #1
  2. Propertunity

    Propertunity Well-Known Member

    Joined:
    19th Jun, 2015
    Posts:
    3,476
    Location:
    NSW
    Tenant usually pays.
     
    Propertunity, 23rd Jul, 2018
    #2
  3. Terry_w

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

    Joined:
    18th Jun, 2015
    Posts:
    41,983
    Location:
    Australia wide
    1st question too broad.

    2nd
    Yes, one example is the foreign persons aspects.
     
    Terry_w, 23rd Jul, 2018
    #3
  4. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,245
    Location:
    Sydney or NSW or Australia
    Unless the owner pays.

    Yes, you may be able to on-charge the land tax on commercial and agricultural land If lease provides for it.
     
    Last edited: 23rd Jul, 2018
    Scott No Mates, 23rd Jul, 2018
    #4
  5. Illusivedreams

    Illusivedreams Well-Known Member

    Joined:
    3rd Oct, 2017
    Posts:
    2,457
    Location:
    Sydney
    Is the land tax same amount as Residential?
     
    Illusivedreams, 23rd Jul, 2018
    #5
  6. Terry_w

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

    Joined:
    18th Jun, 2015
    Posts:
    41,983
    Location:
    Australia wide
    Not necessarily.
     
    Terry_w, 23rd Jul, 2018
    #6
  7. Scott No Mates

    Scott No Mates Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    27,245
    Location:
    Sydney or NSW or Australia
    Rates are the same but there's no ppor exemption.
     
    Scott No Mates, 24th Jul, 2018
    #7
  8. Terry_w

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

    Joined:
    18th Jun, 2015
    Posts:
    41,983
    Location:
    Australia wide
    Don't forget there are different rates where 'foreign persons' own residential land in NSW - which could include companies and trusts set up to hold the land. An extra 2% pa surcharge.
     
    Terry_w, 24th Jul, 2018
    #8