Land Titles Office - Fraud / rort!!??

Yes, you own, get bill, must pay......

But what I mean is a lot of people think they are paying in advance, like rent, but you are paying for a period you actually already held the property.

 

Can you cite any evidence that this is the case? I would have thought it was in advance.

But either way it would still be the same.

 

No, but when I was reading in detail a while back in re NSW, I thought it was for period already held. So end of Dec, you hold x, you pay later in the next year for what you held the year prior, to me, that is arrears.

I might be able to find it later, but if it is in fact in advance, you gonna have to pony up anyways....think we are all on the same page there.

 

NSW OSR

What period does my notice of assessment cover?
Your notice of assessment covers a calendar year, 1 January to 31 December, and includes all property you own at midnight on 31 December of the year prior to each tax year.

 

I had a quick look at the VIC land tax act and couldn't see anything about this question of if it is for the past or the future - probably because it doesn't matter from a payment pov

 

Yeah, it is a bit confusing, but, as you say, it is pay up anyways


the below is VIC legislation.

===

LAND TAX ACT 2005 - SECT 36
Land tax assessed on aggregated basis
(1) Subject to this Act, a taxpayer is to be assessed for land tax on land for a tax year on the total taxable value of all taxable land of which the taxpayer was the owner at midnight on 31 December immediately preceding that tax year.

 

that section deals with aggregation. But it does imply that land tax is paid in advance.

 

Oh, ok, I read that as arrears.

Assessed in this year for what you held the preceding year, you pay this year for what you had last year, I suppose it depends on whether your looking at the tax year or when you held property, I take it as paying for what you held as tax is property holding specific, it is past, so arrears, but some may look at it as paying for this tax year, so advance.

but

if it was advance, you could be paying for holding property 1-23 months ? rather than 1-11 months ?

I will stick with arrears.

 

This is a grammatical interpretation question now.

Note the following.

“immediately preceding that tax year.”

So if the tax year is 2017, the taxpayer would become liable on the 31st dec prior to 2017 – which would be 31 Dec 2016. That must mean it is being paid in advance/

 

That's probably why you'd want your sale to settle before the Christmas break rather than on 10th January.

 

Yes, I can see this.

English was not a liked or excelled subject for me, I am still learning (or probably more correct, am re learning, or remembering rather, possibly, at times).

My thinking means your paying for holding a property from essentially 1 day to 11 months and x days.

The other way means your paying possibly for 1 day to 23 months and x possible days.

The latter would seem to go against logic, do you see the above ?

Either way, you gotta cough up ! We all agree on that it seems

 

Yes, or, maybe if there is a tenant pass all the benefit to the purchaser once unconditional & before end of year, or just before end of year.

Would that be legit move do you feel ? I have never tried it, seems likely from what I have read.

 

Isn't that the purpose of the tick box that talks about Land Tax being adjustable is for?

 

Adjusting for land tax, in my mind, is up for negotiation potentially.

I would not see myself as being liable for anyone else s tax & even more so if I am buying a PPOR.

I have bought a lot of resi property & never once paid any or part of anyone elses land tax bill, it would have to be a mortgagee sale at a good buy price for me to think this is ok.

Like the OP, his tax, he pays.

 

[QUOTE="Peter_Tersteeg, post: 337639, member: 42"

There might be some way around this[/QUOTE]

Yeah, throw it in the bin and forget about it.

 

My statement of Lands invoice from LTO (ie: rec'd Feb 2016) is titled Statement of Lands for Period 1 Jan to 31st Dec 2016 - for what I paid as due in June 2016.
So for what I have just received would be for payment 1Jan to 31 Dec 2017, so its not an arrears payment, unless I'm mis interpreting things

 

If you got a bill Feb 16 due June 2016, how could it be till period ending Dec 2016 as December 2016 had not yet arrived ? It can only be in regard to the tax period, not the value or holding period.

It would also mean in Feb they can't yet know the value if it is done same as NSW, as it is done mid year here to determine the value, so they would not know how to charge you. But there is no doubt the tax year is the year the bill is sent and would be for that *tax* period.

I really don't know which is correct, but I do know your gonna pay !

To confuse things more, in NSW they say the below.

How is the value of your land determined?
The Valuer General values all land in NSW annually and provides these values to us for land tax purposes. Values are determined as at 1 July, preceding each land tax year.