NSW LAND TAX

Updated November 12th 2013

A reminder that 2011 NS W land tax assessments are made at midnight on 31 December 2010. If you or your associated entities have purchased or sold a property in NS W during the year, you may be required to update your land tax registration. Your principal place of residence and land used for primary production activities are exempt from land tax, however all other properties should be registered with the NSW Office of State Revenue.

The land tax rate for 2011 is $100 plus 1.6% of the unimproved value of land exceeding the base threshold of $387,000 and then 2% of the value of land exceeding the premium property threshold of $2,366,000. We note that if land is held in a discretionary family trust the threshold may not be available and land tax will be calculated at a flat rate of 1.6% up to $2,366,000 and 2% thereafter.