Tax Tip 562: Land Tax in WA between Contract and Settlement

Discussion in 'Accounting & Tax' started by Terry_w, 8th Nov, 2023.

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  1. Terry_w

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

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    Tax Tip 562: Land Tax in WA between Contract and Settlement


    The taxing date for land tax in WA is 30 June each year.

    Where a contract has been signed before this time with settlement after, the seller of the land would generally be liable for land tax.

    However, where possession has been granted to the purchaser before title passes then it is the purchaser who be taken to be the owner of the land for land tax purposes.


    See s8(3) Land Tax Assessment Act 2002 (WA)

    LAND TAX ASSESSMENT ACT 2002 - SECT 8


    Note that if you are the seller, this strategy could work for land in WA as well.

    Tax Tip 561: Avoid Land Tax by arranging possession before settlement Tax Tip 561: Avoid Land Tax by arranging possession before settlement
     
    Terry_w, 8th Nov, 2023
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