Land tax is applicable to all land holdings in Australia except for land which satisfies the requirements of any of the following exemptions:
In deciding what type of entity should hold the family home or the family farm, individuals must balance asset protection concerns against the need to comply with the particular conditions of the particular land tax exemption they wish to qualify for. For instance a family home owned by a company which is the trustee of a family trust will not generally be entitled to claim the principal place of residence exemption and will be liable to pay land tax on such a land holding.
Our firm is able to provide advice on how individuals, businesses and organisations can structure their land holdings to take advantage of the land tax exemptions. Our firm is also able to provide advice on how land tax is imposed on where different entities such as companies and discretionary trusts own land.
Besides providing this advice our office also makes representations on behalf of our clients to the Office of State Revenue. This includes: