QLD Maxed out Land Tax Threshold

Hi All,

Have purchased in QLD and am currently under the Land Tax Threshold (for now) and am looking at my options for a Buy & Hold strategy with a balance of Equity and Yield.

Where should I buy next assuming that I could buy up to the $700k mark (doesn't need to be a single purchase as this could be 2x$350k) and for what reasons?

Thanks in advance

Tony

 

Or use a different ownership structure

 

Yep!

 

Ok, so currently all are in my name. I understood that land tax threshold don't apply to trusts so may I ask what the alternative ownership structure would look like considering I'm single with no dependants

Thanks

 

In Queensland they do. You won't have negative gearing benefits though. Losses wI'll be trapped in the trust

 

$350k threshold for companies and trusts in qld.

 

Excellent- thanks guys

 

Use another entity to own them, or look at investing in another state?

 

If you are single you could still own in a unit trust and negatively gear. I think discretionary trusts are a better structure for QLD and we would rarely establish a unit trust for someone unless there are unrelated parties involved. Company is fine for land tax but CGT is an issue.

 

Hi
Can some one throw a light on this
We have same issue in nsw
All purchase are in Indviduall name which is triggering above threshold , is their any alternative we can avoid new purchase where we want to live in. Any family trust or unit trust structure is better

 

in NSW a trust won't get any threshold generally. Consider a company.

 

If you buy a property to reside in it in NSW it is exempt from land tax so there should be no concern.

 

But I alredy have 3 properties , I need to purchase another one in nsw