ACT Land Tax

[Shaggygirl]

A question to the other Canberra investors....

I have been renting my townhouse to my brother and sister. It is a free standing unit in a complex. Should I have been paying Land Tax? If so, can you give me any idea of what sort of money we are talking about? (The unit is in Calwell).

Thanks

Shaggygirl

 

[Bobq]

Dear Shaggygirl

Yes, you should have been. Land tax is payable on rented property and depends on the value of the property (actually of the land). A purely off the cuff guestimate would be in the region of $400 to $500 p.a. payable quarterly for a townhouse with its own grounds or a sufficient amount of common property.

May well be that if you contact ACT Revenue and let them know your situation they'll be relatively nice about it. Especially if you don't tell them anything before you see whether they're planning to be nice. :-D

Bob