NSW Land Tax

TFBoy said: ↑
If a couple owns 3 properties in nsw:

1. 495k owned by husband
2. 495k owned by wife
3. 495k jointly owned

Would it be right to say they only have to pay land tax for property 3?

This one was doing my head in after all the other scenarios, and reading

I concluded...after all the discussion, it should be as below......

There would be 3 thresholds

so property

1 13k
2 13k
3 13k

So each person would be paying

$100 + $312 so $412 ea if I have my head round it all.

 

No one wants a fight with another that has deep pockets, but gee....if there was a time to have a go, it would have to be after being removed with no notice at all then being pinged believing you had been doing the right thing, would have to have a strong argument over any fines or extras at least with the OSR....obviously better to avoid.

 

No, because there are only 2 people involved so 2 thresholds.

 

I was editing, but I think there is 3 thresholds, there are 3 purchasers ?

but the joint one will be added to the other as there are 2 persons ?

anyone with those numbers better register either way !!!

 

After last night, I am now thinking again my initial thoughts were right, in that there are 3 purchasers, 3 thresholds and the liable tax is 100% of one and 50% of other for each person above the threshold ?

I am not yet convinced on the final calculation though, but I am going to remove part of the post that I am convinced is wrong, I do believe tax will be under 1k each.

 

Well, one thing is sure, NSW land tax is nowhere near simple I have had so many different lots of info.

I think later, maybe will do a different post with scenarios/examples.

 

Ok, did a post and example, feel free to pick apart or add your own examples.

NSW Land tax examples thread