The Peter Vickers Business Group was founded in 1979 by Peter Vickers – a core strength from day one was accounting. In order to satisfy the needs of our clients we have grown to provide a comprehensive range of financial services. We provide these services to a broad range of clients, across a diverse range of industries and professions, both in Australia and overseas.
Land tax is a tax levied on the owners of land in New South Wales (NSW) as at midnight on the 31 December of each year.
Land tax applies to land regardless of whether income is earned from the land. Land includes: vacant land, including vacant rural land. land where a house, residential unit or flat has been built.
Land tax is an annual tax payable by owners of land. Land tax is administered by your state or territory government and is applicable everywhere except for the Northern Territory. An owner with one or more parcels of taxable land (e.g. strata lots, investment properties, holiday houses, commercial premises, vacant land, company title units, etc.), is liable for land tax.
Land tax is calculated on the combined value of all the taxable land you own. The land tax threshold for 2018 is $629,000. This means your land tax assessment is calculated on the combined value of all the taxable land you own above this threshold.
If you need help with land tax our team have years of experience and are on hand to help with any questions or advice you might need. Chat with us today.
Advice provided by Peter Vickers Insurance Brokers Pty Ltd trading as Peter Vickers Investment Services Australian Credit Licence and Australian Financial Services Licence Number 229302
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