QLD land tax - does this just for investments?

Discussion in 'Accounting & Tax' started by jaybean, 30th Nov, 2015.

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  1. jaybean

    jaybean Well-Known Member

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    I have a property that I don't even know how to classify. I purchased it for my parents and I live at random intervals throughout the year. Does this make any difference as far as land tax goes?
     
    jaybean, 30th Nov, 2015
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  2. Terry_w

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

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    Terry_w, 30th Nov, 2015
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  3. jaybean

    jaybean Well-Known Member

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    jaybean, 30th Nov, 2015
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  4. Terry_w

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

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    It is a property and you are the owner, so it would count towards land tax threshold.

    Look at the land tax act QLD and see if you can cover it with an exemption.
    Part 6--Exempt land

    Division 1--Homes
     
    Terry_w, 30th Nov, 2015
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