Can somebody please help me with working out the land tax bill for both my wife and I. Note, property number 4 is owned by my brother and I, 50-50 split. All property in Victoria.
Property No 1 - Own with wife 50% each.
- Land value: $480,000
Property No 2 - Own with wife 50% each.
- Land value: $318,000
Property No 3 - Own with wife 50% each.
- Land value: $200,000
Property No 4 - Own with my brother 50% each
- Land value: $119,000
Also, if I were to buy IP number 5 in Vic with my wife, again 50-50 and land value was $450,000, what would the new calculations be?
I am trying to work out whether it is still viable to buy another in Vic or look to another state for land tax reasons. I've tried doing the numbers, but not 100% sure I am doing the right thing.
Thanks.
Property No 1 - Own with wife 50% each.
- Land value: $480,000
Property No 2 - Own with wife 50% each.
- Land value: $318,000
Property No 3 - Own with wife 50% each.
- Land value: $200,000
Property No 4 - Own with my brother 50% each
- Land value: $119,000
Also, if I were to buy IP number 5 in Vic with my wife, again 50-50 and land value was $450,000, what would the new calculations be?
I am trying to work out whether it is still viable to buy another in Vic or look to another state for land tax reasons. I've tried doing the numbers, but not 100% sure I am doing the right thing.
Thanks.