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LAND TAX
Do you need help with Land Tax in NSW? As of midnight on 31 December of each year Land tax is a tax levied on the owners of land in NSW . In general, your principal place of residence (your home) or land used for primary production (a farm) is exempt from land tax.
The NSW Land Tax Threshold for 2022 is $822,000.
In NSW, land tax is calculated as $100 + 1.6% of the land value over $822,000. For instance, a property with a $1,000,000 land value would be subject to $2,948 in land tax in 2022.
Exemptions may apply including:
You may also be able to apply for an exemption if you are moving between homes, building or renovating before moving in, living away from home, where the owner has died or where the land is owned through a company or trust. More information on exemptions can be obtained from Revenue NSW.
Peter Vickers Business Group has a team of specialist accountants and advisers ready to help you, call us on (02) 9496 2300 for your Land Tax or any aspect of tax in Australia.
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Suite 2/345 Pacific Highway,
Lindfield, NSW 2070
T: 61 2 9496 2300
services@pva.com.au
Peter Vickers Insurance Brokers
Suite 2/345 Pacific Highway
Lindfield NSW 2070
T: 1300 784 011
enquiries@pvib.com.au
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