NSW Land Tax backflip, Vendor Tax stays

K

keithj

See SMH



* People with investment properties on land valued under $330,000 will pay no land tax. (In 2005 they will get bills up to $2000).

* Properties with land values over $330,00 will see their bills increase as the tax rate will return to 1.7 per cent.

* As expected, there is no change to the 2.25 per cent vendor tax - but this affects fewer people, because it is only payable when a property is sold.
Click to expand...
Presumably trusts will be paying 1.7% Land Tax again.
 
keithj said:
* Properties with land values over $330,00 will see their bills increase as the tax rate will return to 1.7 per cent.
Click to expand...

Isn't the 1.7% an incremental rate? So that if you are just over 330k you will see a reduction not an increase. :confused:
 
tis on all www.osr.nsw.gov.au and it sucks. :mad:

companies and trusts don't qualify for the $330,000 threshold so have to pay from $1. there is no mention on the website of any increment so i assume it is also 1.7% from the first calcuated dollar.

only takes 1-2 properties, even in "regional" nsw to leap over the threshold and if you have a company, like myself, to protect your assests than you get slugged for everything. :mad:

so much for trying to work towards supporting your retirement ... all i can hope is that carr and his cronies get ousted in the next election.

lizzie
 
Count me on for that one, I am sick of Mr Carstro from New South Cuba. I am considering voting twice this time, three times if I can. :cool:
 
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