With an established network of offices around the globe, Australasian Taxation Services (ATS), continues to dominate as the leading Australian expatriate and property tax firm, having serviced thousands of international and Australian based clients.
Australian Property Owners – How to avoid penalties for late registration & late payment of land tax liabilities
The recent Australian state level land tax changes for Australian property owners are important and something to ensure that each property owner is aware of and registered for if applicable. Registration is compulsory and penalties may apply for late registration and late payment of land tax liabilities.
Also see: Changes to Australia’s Capital Gains Tax: Impacts on foreign and Australian residents
Land tax is administered by each local state government and as such, we are unable to register on behalf of our clients. We have provided a table to assist you with this process:
New South Wales
Tax Free Threshold: $629,000
Rates: Marginal from 1.6%
Calculation Basis: Entity*
Foreigner Absentee Surcharge: 2% – no tax-free threshold – Absentee includes PR’s absent >200 days p.a. (Excludes Aust Citizens)
To register: Click Here
Victoria
Tax Free Threshold: $250,000
Rates: Marginal from 0.2%
Calculation Basis: Entity*
Foreigner Absentee Surcharge: 1.5% with $250,000 tax free threshold (Excludes Aust Citizens & Permanent Resident Visa Holders)
To register: Click Here
Queensland
Tax Free Threshold: $600,000
Rates: Marginal from 1%
Calculation Basis: Landholding
Foreigner Absentee Surcharge: 1.7% with $350,000 tax free threshold. Absentee includes Citizens & PR’s not residing in Australia.
To register: Click Here
Western Australia
Tax Free Threshold: $300,000
Rates: Marginal from 0.25%
Calculation Basis: Entity*
Foreigner Absentee Surcharge: N/A
To register: Click Here
South Australia
Tax Free Threshold: $353,000
Rates: Marginal from 0.5%
Calculation Basis: Entity*
Foreigner Absentee Surcharge: N/A
To register: Click Here
A.C.T
Tax Free Threshold: $0
Rates: $765 plus marginal from 0.29%
Calculation Basis: Landholding
Foreigner Absentee Surcharge: N/A
To register: Click Here
Tasmania
Tax Free Threshold: $25,000
Rates: Marginal from 0.5%
Calculation Basis: Landholding
Foreigner Absentee Surcharge: N/A
To register: Click Here
Northern Territory
Tax Free Threshold: N/A
Rates: N/A
Calculation Basis: N/A
Foreigner Absentee Surcharge: N/A
To register: N/A
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Gain a full understanding of your Australian tax obligations and opportunities and book a no cost, no obligation consultation by phoning +44 (0)207 538 3914, emailing ats@smats.net or visiting www.smats.net/Tax
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