NSW Land Tax Changes - Time Running Out

Discussion in 'Accounting & Tax' started by Paul@PAS, 8th Dec, 2016.

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  1. Paul@PAS

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

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    As a citizen she may be OK. However if her partner is involved they may fail this and/or the FIRB rules. The FIRB rules contain a nasty sting for co-ownership that they should be aware of.
     
  2. Paul@PAS

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

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    Aussie Passports do not mean citizenship. Birth doesnt give right to citizenship depending on date of birth. Passport may merely indicate approved right of residence. A resident may or may not have citizenship. Citizenship can also be lost it seems.......

    Citizenship pathways and processes

    Interesting the views on loss of citizenship.....See the above link for "resume".... For complexity see this Dual citizenship
     
  3. Terry_w

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

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    Are you saying a non-citizen can get an Australian passport?
     
  4. dabbler

    dabbler Well-Known Member

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    What happens when your a dual citizen ?
     
  5. Terry_w

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

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    Assuming you are a citizen of Australia that is all that matters.
     
  6. Paul@PAS

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

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    And I go back to being critical of OSRs approach.

    How the hell will they determine at any specific point in time who is or isnt a citizen.
    How the hell do they determine if a relative who is beneficially entitled to a Disc Trust other than crystal ball or ancestry.com ??
     
  7. Paul@PAS

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

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    At the time of issue. No. However since a specific date person can cease citizenship by renouncing but need to advise Australia of that choice. Many may choose dual citizenship and thats OK too. There is a subset of people who can hold a passport that arent citizens. ie a person who was a citizen who commence to be a citizen of another country prior to April 2002. Back then there wasnt a dual citizenship rule. They lost citizenship by default.

    Dual citizenship

    It not proof of the OSR rules in my view. I thing some people may be taxable who think they are still citizens who may even have a passport under the days when you didnt have to apply to cease citizenship. Perhaps they are OK ? IDK.
     
  8. Terry_w

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

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    I've never heard of this. My daughters are dual citizens and hold other passports in addition to Australian and have done so before this date.
     
  9. Paul@PAS

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

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    Precisely. Complex ? So how will OSR determine this one ?

    Its a bizarre regime. The Govt changed rules to avoid that issue but do you think they made it retrospective ? Some countries issue passports without citizenship too. They issue them to "nationals" and authorised residents and other terms. A good example is UK. Many aussies also have a UK passport. Recent law changes in the UK have restricted this for new applicants. Here is a list of what the UK called Nationals etc

    Types of British nationality - GOV.UK

    And...British subjects cannot be dual citizens. Buy land here and ???
     
  10. Chin

    Chin New Member

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    Does this surcharge apply to a foreign person who owns strata titled properties e.g. townhouse, apartment, villa?
     
  11. Terry_w

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

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    Yes
     

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