notalwaysstraightforwardandcandependonwhere thepropertyislocatedandifitmeetsspecificcriteria. Unlikestampduty,thisisanannualchargethatmustbe paideachyear
Specificthresholdforlandtaxissetbyeachstateand territory,sothereisachancethatyoumayevenqualify foranexemption
TheValuerGeneralusuallycalculatestheamountdue basedonthelandonly,withoutanybuildingsor structures.Typically,landtaxiscalculatedonthe aggregatedvalueofallthelandyouownwithinthat stateorterritory
Thegoodnewsisthatitisnotpayableonyourprincipal placeofresidence,however,islikelytobepayableona holidayhomeSomebuild-to-rentpropertiesmayalso beexempt
Knowingwhenlaxtaxiscalculatedandwhentoexpect yourbilltoarriveallowsforbetterplanningandcanavoid unnecessarystressandpenalties
Alwayscheckyourassessmenttoensureyouknow exactlywhenpaymentisdueIfyoudonothavethe funds,apaymentplanoptionmaybeavailable Ifyoubelievetheamountshouldbeamendedduetoa changeincircumstances,suchasaddingorremovinga propertyfromyourportfolio,thenitiscrucialtocontact yourofficeofStateRevenueassoonaspossible Let’stakealookatthecurrentlandtaxdetailsfor20252026,however,thesemaybesubjecttochange NewSouthWales
Taxdate:Midnightof31December Assessmentnoticesissued:FromJanuaryeachyear Threshold:Payablefrom$1,075,000andapremium thresholdof$6,751,000
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