Search results
-
T
NSW Land Tax deduction to prevent double taxation
Just sharing my experience which has seemed to work OK so far: My marginal tax rate is 32.5%, my husband's is 37%. I own 99% of our CF+ IPs, husband has a 1% share via tenants in common. When we come to sell the IPs I would be more likely to be on a lower income than my husband due to working...- tess85
- Post #16
- Forum: Property Investment - Other
-
T
NSW Land Tax deduction to prevent double taxation
Do you mean the figure of $308 that I quoted, that you say should be $1408? The $308 comes straight from the OSR's working (link above). They do a deduction to arrive at that figure. I have replicated the OSR calculation but I'm surprised it gives a favourable result to the investor, that's...- tess85
- Post #4
- Forum: Property Investment - Other
-
T
NSW Land Tax deduction to prevent double taxation
There is a really interesting fact sheet here which might be of interest to NSW investors. http://www.osr.nsw.gov.au/sites/default/files/file_manager/ofs_lt06_1.pdf To summarise (directly from page 2) If A & B jointly own Property 1 with a land value of $800k, and Mr A wholly owns...- tess85
- Thread
- double taxation land tax land tax deduction nsw osr
- Replies: 17
- Forum: Property Investment - Other