The latest on Land Tax in Victoria

From: Marina. L


I have just read that the State Government WILL NOT implement the flat tax rate system that the Harvey report proposed.

(WHEW..What a relief)

The Governments response was that the tax of 2.89% would have impacted too harshly on sections of the business and investor community.

They have decided to give us all Victorians a little bonus instead.They will lift the Tax free Threshold on Unimproved land from 85K to $125K.

To everyone who sent emails and letters of opposition I thankyou and thankyou to Jude who made those initial enquires and provided us all with the appropriate address.





MARINA
 
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Reply: 1
From: Apprentice Millionaire


Yes! Thanks Jude for the info! You're a legend!

And for the little anecdote: I sent an email to the address Jude provided: brumby @ whatever it was. And I started my letter by writing: "Dear Premier". Oooops! Don't know how he took it! :)

Cheers
Apprentice Millionaire
(aka Jacques in the old forum)
 
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Reply: 1.1
From: Manny B


Howdy there,

with the threshold going to $125k, does this mean that if you own a few properties that the threshold is $125k per property? or is it the threshold of all the investment properties combined?

Cheers,

Manny.
 
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Reply: 1.1.1
From: Rolf Latham


Hi Manny

Probably like NSW

Cumulative threshold - they add up, and at 125 k you pay

Ta


Rolf
 
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