South Australia - Land Tax for trust

Discussion in 'Accounting & Tax' started by hapi, 6th Jan, 2018.

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  1. hapi

    hapi Member

    Joined:
    29th Dec, 2017
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    Location:
    NSW
    Hi everyone

    I am doing research about Trust Land Tax in South Australia.

    Can someone please confirm if the calculator section below is supposed for trusts ?

    "Multiple Holding Value = Value of all non-exempt properties as assessed by the Valuer-General"

    Calculate Land Tax - RevenueSA

    Thanks

    Hapi
     
  2. Simon Hampel

    Simon Hampel Founder Staff Member

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    Trusts get their own thresholds in SA, so that calculator should still be valid for a trust.

    My understanding is that even if you are a personal trustee (as opposed to a corporate trustee), you can still apply to have land tax treated as separate to other land owned by you personally - see Land held on Trust - RevenueSA
     
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  3. D.T.

    D.T. Specialist Property Manager Business Member

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    Adelaide and Gold Coast
    Same threshold here. So you can have ~320k worth in your name, ~320k wortj in partner's, ~320k worth each in trust a, b and c.

    Remember this is land value (not inc house), according to state govt valuation.

    Works out bad to own in both partners names here.
     
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  4. hapi

    hapi Member

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    29th Dec, 2017
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    NSW
    Thanks everyone for the helpful replies :)