Rates and thresholds
Land tax is calculated on the combined value of all the taxable land you own above the land tax threshold. The rate of tax is $100 plus 1.6% of the land value between the threshold and the premium rate threshold and 2% thereafter.
If land is owned by a trustee of a special trust the land tax threshold does not apply and land tax will be charged at a flat rate of 1.6% of the taxable land value up to the premium threshold of $2,366,000 and then 2% thereafter.
If the combined value of your land does not exceed the threshold, no land tax is payable.
Non-concessional companies
Where the concessional or joint concessional companies' land value exceeds the premium rate threshold, the land value of each non-concessional company is assessed at 2% of the taxable value.
Where the concessional or joint concessional companies' land value does not exceed the premium rate threshold, but exceeds the general threshold, the land value of each non-concessional company is assessed at 1.6% of the taxable value.
Threshold and rates for 2012
The land tax threshold for 2012 is $396,000.
A premium land tax marginal rate of 2% applies on the total taxable land value above the premium threshold ($2,421,000).
The Valuer General used the following indexed amounts to determine the average of indexed amounts for the 2012 tax year:
| Year | Indexed amount |
|---|---|
For the 2010 land tax year | $380,000 |
For the 2011 land tax year | $401,000 |
For the 2012 land tax year | $408,000 |
Average | $396,000 |
Threshold and rates for 2011
The land tax threshold for 2011 is $387,000.
A premium land tax marginal rate of 2% applies on the total taxable land value above the premium threshold ($2,366,000).
The Valuer General used the following indexed amounts to determine the average of indexed amounts for the 2011 tax year:
| Year | Indexed amount |
|---|---|
For the 2009 land tax year | $380,000 |
For the 2010 land tax year | $380,000 |
For the 2011 land tax year | $401,000 |
Average | $387,000 |
Threshold and rates for 2010
The land tax threshold for 2010 is $376,000.
A premium land tax marginal rate of 2% applies on the total taxable land value above the premium threshold ($2,299,000).
The Valuer General used the following indexed amounts to determine the average of indexed amounts for the 2010 tax year:
| Year | Indexed amount |
|---|---|
For the 2008 land tax year | $369,000 |
For the 2009 land tax year | $380,000 |
For the 2010 land tax year | $380,000 |
Average | $376,000 |
