Previous years
Land tax 2009
| Tax Year | Threshold | Rate |
|---|---|---|
2009 | $368,000 | 1.6% + $100 |
| Premium Threshold | ||
$2,250,000 | 2% for the taxable value above the land tax threshold |
Premium threshold: from the 2009 tax year, a new premium land tax marginal rate of 2% applies on the taxable land value above the premium threshold.
Special trusts and non-concessional companies: there is no threshold in 2009 for non-concessional companies and special trusts. These entities will be taxed at the flat rate of 1.6% on the total value of all the taxable land owned.
Land tax 2008
| Tax Year | Threshold | Rate |
|---|---|---|
2008 | $359,000 | 1.6% + $100 |
Special trusts and non-concessional companies: there is no threshold in 2008 for non-concessional companies and special trusts. These entities will be taxed at the flat rate of 1.6% on the total value of all the taxable land owned.
Land tax 2006 and 2007
| Tax Year | Threshold | Rate |
|---|---|---|
2007 | $352,000 | 1.7% + $100 |
2006 | $352,000 | 1.7% + $100 |
Special trusts and non-concessional companies: there is no threshold in 2006 for non-concessional companies and special trusts. These entities will be taxed at the flat rate of 1.7% on the total value of all the taxable land owned.
Land tax 2005
There was no threshold for land tax in 2005. Taxable land in 2005 was assessed at the following rates:
| Taxable value of land owned | Rates of land tax payable |
|---|---|
Not more than $400,000 | 0.4 cents for each $1 |
More than $400,000 but not more than $500,000 | $1,600 plus 0.6 cents for each $1 by which the taxable value exceeds $400,000 |
More than $500,000 | $2,200 plus 1.4 cents for each $1 by which the taxable value exceeds $500,000 |
Special trusts and non-concessional companies: In 2005 land owned by a trustee of a special trust or a company classified under Section 29 as a non-concessional company was charged at the rate of 1.4 cents for each $1 of the taxable value.
Land tax rates prior to 2005
| Tax Year | Threshold | Rate |
|---|---|---|
2004 | $317,000 | 1.7% + $100 |
2003 | $261,000 | 1.7% + $100 |
2002 | $220,000 | 1.7% + $100 |
2001 | $205,000 | 1.7% + $100 |
2000 | $192,000 | 1.7% + $100 |
Special trusts and non-concessional companies: From 2000 to 2004 land owned by a trustee of a special trust or a company classified under Section 29 as a non-concessional company was charged at the rate of 1.7 cents for each $1 of the taxable value.
Premium property threshold
| Tax Year | Threshold |
|---|---|
2005 | Premium Property Tax abolished |
2004 | $1,970,000 |
2003 | $1,680,000 |
2002 | $1,414,000 |
2001 | $1,319,000 |
2000 | $1,234,000 |
