Will we have to pay land tax?

[A&P]

We have a ppor with land value of $335000 and have just purchased an investment property with land value of approx $280.000.

Am i correct in saying that you don't pay land tax on your ppor but yes on an investment property?

If so can someone please tell me roughly how much we are likely to have to pay? both properties are in NSW.

Thankyou,

A&P

 

[bluestorm]

Yes you are correct in that you don't have to pay land tax on the PPOR, but do pay land tax on investment.

As the NSW threshhold for land tax is $387,000, you will not have to pay any land tax, as the $280,000 land value of the IP is under.

 

[devank]

How do they calculate the land value for units? Do they simply take the propotion?