Question regarding Land Tax and joint ownership.

[The_Bludger]

Hi all,

I own three IP?s with my wife. All have loans stamped ?joint ownership? and we get charged Land Tax accordingly. If I was to purchase our next IP under my name only, how will that new purchase be calculated in regards to Land Tax?

Thanks.

 

[wylie]

The whole of it will be added to the half share you already have and your land tax will start to hurt even more than it does now.

 

[Terry_w]

Hi all,

I own three IP?s with my wife. All have loans stamped ?joint ownership? and we get charged Land Tax accordingly. If I was to purchase our next IP under my name only, how will that new purchase be calculated in regards to Land Tax?

Thanks.

Depends on the state. Doesn't matter how the loans are set up but the ownership.