Hi everyone:
I'd like to seek help about my current land tax situation.
I am based in QLD so I understand that I have a 600k threshold before I have to start paying land tax for my IPs. I am currently not far off the threshold as I purchased a property with a quite high unimproved land value (my mistake for not putting it under the family trust... ). I am currently looking to purchase an NRAS property and from what I understand buying an NRAS property under personal name is the way that can maximize the benefits of NRAS? I'd appreciate experts opinions regarding my situation as there's a space of only about $100K before I reach my land tax threshold. I couldn't find out what the unimproved land value for the 1 bedroom unit in Bowen Hill/fortitude valley would be but maybe $100k a fair guess?
Also I'd appreciate if someone could recommend a good accountant who is experienced in accounting for investment properties, (including structures etc) and maybe also in accounting for health professionals?
Thanks heaps once again!
rando
I'd like to seek help about my current land tax situation.
I am based in QLD so I understand that I have a 600k threshold before I have to start paying land tax for my IPs. I am currently not far off the threshold as I purchased a property with a quite high unimproved land value (my mistake for not putting it under the family trust... ). I am currently looking to purchase an NRAS property and from what I understand buying an NRAS property under personal name is the way that can maximize the benefits of NRAS? I'd appreciate experts opinions regarding my situation as there's a space of only about $100K before I reach my land tax threshold. I couldn't find out what the unimproved land value for the 1 bedroom unit in Bowen Hill/fortitude valley would be but maybe $100k a fair guess?
Also I'd appreciate if someone could recommend a good accountant who is experienced in accounting for investment properties, (including structures etc) and maybe also in accounting for health professionals?
Thanks heaps once again!
rando