land tax?

[JBY]

Quick question -:

I bought a new property off the plan. When the building was completed settlement went through in July 2008. The property cost me $520,000. At the time of settlement I paid approx $400 - 500 land tax via the solicitor. It was my first property and it was purchased as an investment property.

I haven't received any further requests to pay land tax so I called the Office of State Revenue in Queensland today to see why. They told me that (1) they never received a payment for land tax, and (2) that as the land was currently valued at $42, 770 (and therefore under the $600,000 threshold) I definately didnt need to pay any land tax anyway.

Surely this can't be right??? Ideas?!?!?!

 

[handyandy]

I would suggest that you speak to your solicitor re this matter.

What it could have been was some sort of apportionment of land tax which the developer had previously paid on the whole land.

As you say with a land content value of $42,770 and no other properties you were well and truly under the threshold and even with apportionment should not have been liable for land tax.

Cheers

PS When you pay land tax as part of settlement there may not be an actual amount paid to the dept of state revenue as the previous owner may already have paid and as such you are reimbursing the vendor. Similar to council rates.

Obviously there are times when the vendor hasn't paid in which case a cheque is raised to pay the relevant dept as part of settlement.

 

[JBY]

land tax

thanks, all sorted now.

 

[buzzlightyear]

thanks, all sorted now.

What was the outcome?

 

[JBY]

land tax

It was just a one off payment as part of settlement. I checked with the Office of State Revenue - I wont have any ongoing land tax payment issues.