From SMH website:
The boom in property investment has sparked action from the NSW State Government, which could be missing out on millions in land tax.
The government is urging property investors to register the properties they own by the end of March or risk being charged penalties or interest.
The huge growth in the number of new landlords, particularly in NSW, means many property investors may not be aware that they could be liable for land tax.
Australian Bureau of Statistics data shows the value of new NSW property investment loans was $5.5 billion for the month of November 2014, the highest-ever.
That was about half of all property investment loans nationwide in November. More investors will be liable for land tax as Sydney property prices continue to surge.
In ads in media outlets tomorrow, the NSW Office of State Revenue says those with properties with a total land value of more than $432,000 are required to register for land tax.
All property owners who may be liable for land tax must register by March 31.
More on land tax can be found at www.osr.nsw.gov.au.