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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:

YearIndexed 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:

YearIndexed 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:

YearIndexed 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

Last updated: 17-Oct-2011
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