What is Land Tax?

date May 26th, 2020 category Uncategorized

Land Tax is a state tax imposed and assessed on all land in Australia. In, Victoria land valued at $250,000 or more as at the 31st of December of the previous year regardless of whether property is held individually or jointly by a person incurs  Land Tax. However, Land Tax is only payable on residences which are not the individuals principle place of residence.