I’m just wondering why you keep referring to the total amount at the property, when the land tax is only calculated on the land value For instance if you own a property in Bondi which is worth 5 million the land value may be 1.5 million so the tax and only paid on the latter?
Yes agreed it’s land value not the property value. I should have been more clearer in the video. It’s not the easiest to condense tax legislation under 10 mins Thanks for picking that up
Hey Davie ive watched a lot of your stuff its been very helpful as I am from WA.. With Victorian Land Tax, when i use the SRO calculator would I put the enitire price of the property including the house or just the land value as mentioned? If it is just the land value as I am thinking, how do I calculate this for something like a 'development feasibility?' Any tips apprectiated.
If we buy investment properties as joint tenants between wife and husband, will the land tax threshold be checked for each individual's stake(50% each) in the property or is it calculated as a single threshold. For example, if a couple owns(as joint tenants) one investment property with land value of 1 Million in NSW, will the couple need to pay land tax or they would be exempt as each of their share's land value is 500K? Thanks !
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Nice video, didn’t know this info
Loved the multiple ways and tips to reduce tax
Glad it was helpful!
I’m just wondering why you keep referring to the total amount at the property, when the land tax is only calculated on the land value
For instance if you own a property in Bondi which is worth 5 million the land value may be 1.5 million so the tax and only paid on the latter?
Yes agreed it’s land value not the property value.
I should have been more clearer in the video.
It’s not the easiest to condense tax legislation under 10 mins
Thanks for picking that up
Learned a lot from your content!
Glad you did!
awesome video buddy, thank you!
Glad you liked it!
How about surcharge land tax for foreigner buying investment property in nsw . Can you do video update ? Thanks
Good video - thanks.
Glad you liked it!
Hey Davie ive watched a lot of your stuff its been very helpful as I am from WA.. With Victorian Land Tax, when i use the SRO calculator would I put the enitire price of the property including the house or just the land value as mentioned? If it is just the land value as I am thinking, how do I calculate this for something like a 'development feasibility?' Any tips apprectiated.
Land value only for land tax
Don’t put in the value you purchased
You can search the land value online
Does this apply only on investment property? Not in the property you live in?
Correct, Your home is exempt from land tax. Butyou only have one main residence at one point of time.
If we buy investment properties as joint tenants between wife and husband, will the land tax threshold be checked for each individual's stake(50% each) in the property or is it calculated as a single threshold. For example, if a couple owns(as joint tenants) one investment property with land value of 1 Million in NSW, will the couple need to pay land tax or they would be exempt as each of their share's land value is 500K? Thanks !
single threshold. but you do get a credit of what you paid in your personal name if you have other properties in your personal name.
You making it more confusing mate, please guys its only the land value not the whole property value