Changes in Land Tax and a Free Gift from the NSW Government

Posted On: Tuesday, December 12th, 2017  In: Blog

 

Land Tax

If you own land in NSW with an unimproved capital value greater than $549,000, at midnight on 31 December you will have to pay land tax.

This equals about 2 to 3 average home units but there is no threshold for a family trust.

“Foreign” persons do not get the threshold and have to pay an extra 2%. An Australian citizen is not a “foreign” person.

If you reside in Australia for more than 200 days in the preceding year then you are also not a “foreign” person.

 

A Free Gift from the NSW Government

This is actually a Small Business Grant for businesses that do not pay payroll tax.

You will get $2,000 for new jobs that are created up to 30 June 2019.

There is also a $6,000 Payroll Tax Jobs Action rebate for those that pay payroll tax.

The problem with these grants is that the cost in your time getting them almost eats away at any grant received.

 

 

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