Calculate Land Tax on a Single Property Basis

This calculator is designed to calculate Victorian Land Tax on a single property holding basis using ordinary Land Tax rates or the Trust Surcharge rates that became effective from 1 January 2006.

Simply entere the Unimproved Property Value of the property and it will calculate the Land Tax to be charged using the two rates.

Accordingly, assuming that this is the only property held, the Land Tax payable using Ordinary Rates will be  lower than the Land Tax using Trust Surcharge rates.

For a short time the opportunity exists to take advantage of a one-off opportunity to ensure the impact of the new land tax rates on your future liabilties is minimised. You should refer to the State Revenue Office website (www.sro.vic.gov.au) Nomination.

In addition, all trusts that hold property as at 31st of December 2005 must notify the SRO of the properties held on the Notification of Land Held in Trust Form (obtained from www.sro.vic.gov.au). This form must be completed and lodged by 31st of March 2006

Nexia ASR has a specialised Land Tax planning software to assist you NOW during the restructing period and in the FUTURE when planning new land acquisitions.

Contact Nexia ASR to discuss any Land Tax issues you may have.