When to register for land tax?

[menty]

I currently have one IP which was my PPOR, but has been rented out for 2-3 years now. I have never registered for land tax as I had been under the threshold.

I will be acquiring a second property which settles next week. When should I register for land tax as I think both these properties combined would put me over the limit. (I believe my lawyer doesn't deal with the registration of land tax)

 

[Paul@PFI]

I currently have one IP which was my PPOR, but has been rented out for 2-3 years now. I have never registered for land tax as I had been under the threshold.

I will be acquiring a second property which settles next week. When should I register for land tax as I think both these properties combined would put me over the limit. (I believe my lawyer doesn't deal with the registration of land tax)

My recommendation is register when you buy. You wont then forget later which is a common problem. Bracket creep and valuation changes happen slowly and catch out many owners. If you are registered they wont bug you asking if you are registered even two-three years either. Worse still is when you sell the lawyer organised a land clearance cert and the tax is triggered and clawed back (backdated) with penalties...

I would register both now. Before the 31 December assessment.

NSW OSR website d/load the form.

 

[chilliblue]

Every new purchase should be registered at settlement

 

[rosehill]

Will apartment, say with 80-100 units in the block, not be subject to land tax as land value is less than threshold?

 

[neK]

congrats on the purchase menty.
Where did you end up buying?

How are things on your granny flat going?

 

[Terry_w]

Will apartment, say with 80-100 units in the block, not be subject to land tax as land value is less than threshold?

You land value will only be a small portion of the land of the block. It is calculated based on the unit entitlement.