LAND TAX anyone know about this???
Register for land tax
If the total value of your taxable land is greater than the land tax threshold, you will need to register for land tax before 31 March 2018.
If you do not register and fail to lodge a return, we may apply interest and penalties to your assessment based on the Taxation Administration Act 1996.
If you receive a notice of assessment from Revenue NSW before then, you do not need to register.
How do I register for land tax?
Before you register for land tax, you need to complete a pre-registration form online at any time.
You can also call during business hours.
Once you have completed the pre-registration, we will call you within two business days with your Client ID and Correspondence ID that you will use to login to Land tax online to complete your registration. You can also find this information on any recent Revenue NSW correspondence.
Complete your registration online using Land tax online.
If you have previously registered for land tax, you do not need to complete another registration.
Note: If you are a company or trust, you will need to call us during business hours, so we can provide you with your Client ID and Correspondence ID to be able to register online.
What do I need to register?
To register for land tax, you need the following information:
- postal address
- contact details
- foreign person status
- land owned
- residential use, if you are a foreign person
- trust details, if the land is held in trust
- related company details, if your company is part of a related group
- exemption requests.
If you own land individually and as part of a company, trust or partnership you will need to register for each different ownership name.
If the details you have submitted are incorrect, call us.
How will I know if I have to pay?
Once you register, we will send a notice of assessment based on the information you have provided. This will show if you have a land tax liability. You will then be issued with a yearly assessment if liable.
Contact
Phone
http://www.revenue.nsw.gov.au/taxes/land/register?utm_source=Facebook&utm_medium=social1&utm_campaign=201802_land_tax
I think it only applies to foreign ownership ?
Land tax surcharge
If you are a foreign person who owns residential land in NSW, you must pay a surcharge of 0.75 per cent for the 2017 land tax year and of two per cent from the 2018 land tax year onwards.
You may be a foreign person if you are not an Australian citizen.
A foreign person can be:
an individuala corporationa trustee of a trusta beneficiary of a land tax fixed trusta governmenta government investora partner in a limited partnership.
MOre here
http://www.revenue.nsw.gov.au/taxes/land