Hello all,
I think this is my first substaintive post here! Anyways, I've just done some calculations this year and it appears I'm over the threshold for Land Tax in NSW.
I guess my options are:
1/ Buy next NSW property in Company/Trust
2/ Buy interstate (Probably QLD)
But basically that's it -- because 1.6% of the land value is a huge hit each year. On $250,000, it'll be $4000
Anthony,
did you check with the revenue office if your calculations were accurate? I found out when I spoke to them that for some reason only a portion of the value of the property was liable for land tax, can't say I really understand it, but that is what they told me.