Who just received their latest land tax notice?

The government is creating NG opportunities for you. When you have no borrowed funds, your running cost will still exceed the income.

 

Stamp duty is taking a beating, they need to recoup from elsewhere
Definitely object, I will be.
I don't expect it to change, but I'll make the bast@rds work for it

 

Media and non-investors have no pity for investor taxes. Its like complaining about costly speeding tickets.

Bracket creep makes them money. And the impact of surcharges makes even more. The vacant property tax is a issue about to hit the fan too with some owners who think they can hide their property.

 

Agreed, media doesn't care about PIs but loves scandal. If majority will object and complain, at least bring the attemtion.

 

$17k land tax bill for 3 properties . I've been walking with a limp for the past couple weeks .

 

That's obviously not inner Sydney.

 

No, in melbourne. I feel sorry for those in Sydney! Probably triple my bill.

 

Depending on how people look at thing,s --Success can some time's be a failure..

 

@willair totally agree with you. Starting to think buy and hold is no longer profitable.

 

Rarely is in residential properties without a boom so you need to get out once the price done a good boom, after holding cost, headaches and thousand of other things properties is an extreme low return asset class for cash flow.

But everyone can be rich with properties debt up load up.

Let the dudes bought your boom price wear true pain of negative growth and negative cash flow /

But everyone tell you properties double every 7-10 years so load up debt buy any time and be rich -

 

Actually its not the case. Depends on property of course.

Smoothing over 3 years, higher (indexed) threshold and a flat 1.6% (up to a high premium threshold) means for some its actually falling in NSW. The NSW threshold just rose 26%.
Vic has a low threshold that hasnt risen in a long long time but has a lesser scale rate that applies progressively and as property value rises it adds a higher rate to each increased dollar of value.

 

Mate just called , his bill came in at $35k. Guess mines not so bad!

 

Mine rose 10% in NSW. Bill came in at about half a days wage.
Good thing we use 3 year averages and not just the latest year...

 

Thought I'd report back - I got $100k knocked off the value of one of my properties after lodging an objection. It was a bit of work, but worth it.

 

More than tripled in the last 8 years...

As posted before, RE has been very good to me but I would diversify a bit more doing again, and more if starting after 2010.
The forces that be a building strong and RE is an easy target.

 

Ugh. Despite having $100k knocked off last year's valuation after I objected, and a 17 percent drop in prices in the suburb between valuation dates, this year's rates notice is $60k more than last year. I'll be submitting another objection tomorrow.

 

Did you object @The Y-man ? any success? My land tax 2019 was double the previous year, but I forgot to lodge the objection. And then 2020, it went back down to previous year. I can tell next year 2021 will be higher again because my council rate showing much higher.

 

Any success @shorty ? I just called SRO, vic landtax, they said it's too late to object for 2019.

 

My land tax increased 105% because it creeped into the next tax bracket. I give up on property