What next after hitting the land tax threshold?

With VIC ridiculously low $250k land tax threshold, investors probably need to start paying land tax after the 1st IP. $600k threshold for QLD which is equivalent to approx 2-3 IPs. $482k for NSW.
Just wondering what you guys do after hitting the land tax threshold?

 

Pay the tax ? - you asked for it !

Buy in multiple aliases

Or, just change states..... was talking to someone yesterday about this, and suggested getting a partner to double the threshold.

The reality may be a combo of things, it will depend on what your aiming to do as well, you could buy units to lower the impact. You could also buy an expensive home as an investment.

 

Does anyone know the land tax threshold for each state?

 

Trust your accountant call your account and run through your plan with them. They should be able to advise what to do and put in place

Varies. Your accountant should be able to give you the break down

 

Invest in another state, or
Get a trust setup and hit the threshold all over again (assuming your state allows this)

 

Even in NSW it is possible for a couple to get 6 thresholds between them, possibly more.

 

Do you have a tax tip url for how you can get 6 x 482k in NSW Terry?

 

Not that I can remember!

But put simply
1. Spouse A
2. Spouse B
3. SMSF A
4. SMSF B
5. Company controlled by Spouse A
6. Company controlled by Spouse B

Take care as if you are a non resident there can be issues with SMSF and company structuring.

 

thanks mate.

 

Invoice coming your way