pre pay land tax

Discussion in 'Accounting & Tax' started by Fernfurn, 9th Mar, 2020.

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  1. Fernfurn

    Fernfurn Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    190
    Location:
    by a Bellarine beach
    Have just sold a property and although my land tax is not due for 3 weeks, one of the cheques has to be made out to the land tax for the first instalment. Conveyancer has told me not to pay first instalment as it takes forever to a. get through land tax's books into my account and it is very hard to get a refund out of them but b. I know in a dispute they insist you pay first and query later. What do you reckon, should I pay as well as the cheque??
     
  2. Paul@PAS

    [email protected] Tax, Accounting + SMSF + All things Property Tax Business Plus Member

    Joined:
    18th Jun, 2015
    Posts:
    18,486
    Location:
    Sydney
    OSR would require the debt cleared to effect a title transfer. If there is no debt payable I would agree not to pay now. Then the settlement will show an adjustment so its a net $0 sum game either way maybe ?. The conveyancer is probably advising based on a draft settlement estimate. Discuss with them as they seem more informed.
     

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