Often not understood by investors, the trusts laws vary by state with in Australia. This includes how land tax is assessed and applied. For example, a discretionary trust in NSW cannot access the land tax free threshold, but can in Queensland.
1. Who is considered to be a land owner for land tax purposes?
An owner includes a sole owner, joint owners, a company, a trustee of a trust, a beneficiary of a trust, a shareholder in a home unit company and /or any person deemed to be an owner by the land tax legislat...
From 1 July 2017 the NSW foreign investor transfer duty surcharge has increased from 4% to 8% with the surcharge still being payable upfront. Similarly, the NSW foreign investor land tax surcharge of 0.75% has increased to 2% per annum for the 2018 tax year.
Land tax is applicable to all states in Australia with the exception of the Northern Territory. A complicated area and one that has rules differing between states. For this reason this article just addresses NSW.